SVB Wealth LLC Has $5.98 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

SVB Wealth LLC lowered its stake in The Coca-Cola Company (NYSE:KO) by 5.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 101,400 shares of the company’s stock after selling 6,020 shares during the period. SVB Wealth LLC’s holdings in Coca-Cola were worth $5,976,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. ACT Advisors LLC. grew its stake in Coca-Cola by 3.0% in the 4th quarter. ACT Advisors LLC. now owns 13,608 shares of the company’s stock valued at $802,000 after buying an additional 394 shares during the last quarter. Flputnam Investment Management Co. boosted its holdings in Coca-Cola by 1.8% in the 4th quarter. Flputnam Investment Management Co. now owns 112,380 shares of the company’s stock valued at $6,623,000 after purchasing an additional 1,994 shares during the period. Keel Point LLC boosted its holdings in Coca-Cola by 10.7% in the 4th quarter. Keel Point LLC now owns 17,711 shares of the company’s stock valued at $1,044,000 after purchasing an additional 1,710 shares during the period. Sentry Investment Management LLC boosted its holdings in Coca-Cola by 35.6% in the 4th quarter. Sentry Investment Management LLC now owns 30,634 shares of the company’s stock valued at $1,805,000 after purchasing an additional 8,048 shares during the period. Finally, Sippican Capital Advisors boosted its holdings in Coca-Cola by 25.9% in the 4th quarter. Sippican Capital Advisors now owns 6,799 shares of the company’s stock valued at $401,000 after purchasing an additional 1,400 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

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

Analysts Set New Price Targets

A number of research firms have issued reports on KO. Barclays boosted their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, Citigroup upped their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.18.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $58.06 on Wednesday. The company has a market cap of $250.31 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 3.30 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. The firm has a 50 day simple moving average of $59.97 and a 200 day simple moving average of $58.52. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.99.

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

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.485 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.34%. Coca-Cola’s dividend payout ratio is 78.23%.

About Coca-Cola

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.