PGGM Investments Sells 11,023 Shares of The Coca-Cola Company (NYSE:KO)

PGGM Investments trimmed its position in The Coca-Cola Company (NYSE:KO) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 424,937 shares of the company’s stock after selling 11,023 shares during the period. PGGM Investments’ holdings in Coca-Cola were worth $25,042,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Enterprise Bank & Trust Co raised its holdings in Coca-Cola by 3.4% during the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after acquiring an additional 167 shares during the period. Elk River Wealth Management LLC grew its position in shares of Coca-Cola by 1.6% during the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after purchasing an additional 170 shares in the last quarter. KRS Capital Management LLC grew its position in shares of Coca-Cola by 3.8% during the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares in the last quarter. Wayfinding Financial LLC grew its position in shares of Coca-Cola by 1.8% during the 4th quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after purchasing an additional 175 shares in the last quarter. Finally, John G Ullman & Associates Inc. grew its position in shares of Coca-Cola by 2.2% during the 4th quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock valued at $476,000 after purchasing an additional 175 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Citigroup boosted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.22.

Coca-Cola Price Performance

NYSE:KO remained flat at $61.74 during midday trading on Friday. 10,994,262 shares of the company traded hands, compared to its average volume of 12,842,353. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.69. The stock has a 50-day simple moving average of $60.12 and a two-hundred day simple moving average of $58.82. The firm has a market cap of $266.17 billion, a P/E ratio of 24.90, a PEG ratio of 3.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95.

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

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s payout ratio is currently 78.23%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 over the last three months. Insiders own 0.97% of the company’s stock.

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.