DT Investment Partners LLC Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

DT Investment Partners LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,756 shares of the company’s stock after selling 1,240 shares during the period. Coca-Cola accounts for about 0.7% of DT Investment Partners LLC’s portfolio, making the stock its 29th largest holding. DT Investment Partners LLC’s holdings in Coca-Cola were worth $6,095,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. abrdn plc grew its position in shares of Coca-Cola by 16.1% in the fourth quarter. abrdn plc now owns 6,573,329 shares of the company’s stock valued at $387,366,000 after purchasing an additional 910,872 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in Coca-Cola by 7.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 83,736 shares of the company’s stock worth $4,935,000 after acquiring an additional 5,861 shares during the period. Onyx Bridge Wealth Group LLC grew its position in Coca-Cola by 56.1% in the fourth quarter. Onyx Bridge Wealth Group LLC now owns 5,790 shares of the company’s stock worth $341,000 after acquiring an additional 2,081 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Coca-Cola in the fourth quarter worth approximately $323,000. Finally, Greenleaf Trust grew its position in Coca-Cola by 30.9% in the fourth quarter. Greenleaf Trust now owns 171,852 shares of the company’s stock worth $10,127,000 after acquiring an additional 40,518 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 2.1 %

Shares of NYSE KO traded up $1.26 during mid-day trading on Friday, hitting $60.17. The company had a trading volume of 21,207,852 shares, compared to its average volume of 11,594,415. The company has a market capitalization of $259.40 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 3.37 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 Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.99. The business’s 50-day simple moving average is $59.94 and its 200 day simple moving average is $58.56.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $10.80 billion for 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 revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.22%. The ex-dividend date was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the firm’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 disclosure for this sale can be found here. Insiders have sold 375,407 shares of company stock valued at $22,795,742 over the last quarter. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday. Citigroup upped their price target 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, Barclays upped their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.09.

Coca-Cola 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.