The Coca-Cola Company (NYSE:KO) Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,542 shares of the company’s stock after selling 7,611 shares during the quarter. Kanawha Capital Management LLC’s holdings in Coca-Cola were worth $10,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Hibernia Wealth Partners LLC acquired a new position in Coca-Cola in the third quarter valued at $25,000. Freedom Wealth Alliance LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth about $25,000. ZRC Wealth Management LLC lifted its stake in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares in the last quarter. Fortis Capital Advisors LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth about $30,000. Finally, KB Financial Partners LLC acquired a new position in shares of Coca-Cola during the first quarter worth about $31,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.2 %

Shares of NYSE KO traded up $0.12 during midday trading on Thursday, reaching $59.04. 11,107,401 shares of the company’s stock were exchanged, compared to its average volume of 13,896,255. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.99. The stock has a market capitalization of $254.53 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 3.36 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The business’s fifty day moving average price is $60.13 and its two-hundred day moving average price is $58.45.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. Coca-Cola’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 earnings per share. Analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.29%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is currently 78.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays boosted their price objective on Coca-Cola from $60.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Citigroup boosted their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock valued at $22,795,742 over the last three months. 0.97% of the stock is owned by insiders.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.