Charles Schwab Investment Management Inc. Sells 1,131,841 Shares of The Coca-Cola Company (NYSE:KO)

Charles Schwab Investment Management Inc. reduced its stake in The Coca-Cola Company (NYSE:KO) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,007,129 shares of the company’s stock after selling 1,131,841 shares during the period. Coca-Cola makes up approximately 0.9% of Charles Schwab Investment Management Inc.’s holdings, making the stock its 16th largest holding. Charles Schwab Investment Management Inc.’s holdings in Coca-Cola were worth $3,622,291,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of KO. ZRC Wealth Management LLC raised its holdings in shares of Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new position in Coca-Cola during the 4th quarter worth $38,000. Avion Wealth boosted its position in Coca-Cola by 64.8% in the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after buying an additional 322 shares during the last quarter. Finally, Clear Investment Research LLC increased its stake in shares of Coca-Cola by 36.1% in the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after buying an additional 246 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.2 %

NYSE KO traded up $0.12 during trading hours on Wednesday, reaching $62.74. 3,053,544 shares of the company’s stock were exchanged, compared to its average volume of 13,795,274. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.25. The company’s 50-day moving average is $60.32 and its two-hundred day moving average is $59.30. The company has a market capitalization of $270.28 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. On average, analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.09%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

Several equities analysts recently issued reports on KO shares. JPMorgan Chase & Co. raised their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Evercore ISI boosted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Citigroup raised their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. UBS Group upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Barclays raised their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.27.

Insider Transactions at Coca-Cola

In other news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Insiders have sold a total of 380,405 shares of company stock valued at $23,209,645 over the last 90 days. 0.97% of the stock is owned by corporate insiders.

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.