The Coca-Cola Company (NYSE:KO) Shares Sold by Patten Group Inc.

Patten Group Inc. reduced its holdings in The Coca-Cola Company (NYSE:KO) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 179,695 shares of the company’s stock after selling 1,602 shares during the quarter. Coca-Cola comprises approximately 2.5% of Patten Group Inc.’s investment portfolio, making the stock its 5th biggest holding. Patten Group Inc.’s holdings in Coca-Cola were worth $11,188,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in KO. Charles Schwab Investment Management Inc. raised its holdings in Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after buying an additional 11,569,920 shares during the period. FMR LLC boosted its position in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Wellington Management Group LLP grew its stake in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Coca-Cola in the third quarter valued at approximately $269,382,000. Finally, Geode Capital Management LLC raised its stake in shares of Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. This represents a 12.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,646 shares of company stock worth $16,515,469 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $72.29 on Tuesday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a market cap of $310.92 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 3.79 and a beta of 0.61. The firm’s 50-day moving average is $64.73 and its 200-day moving average is $66.52. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is 82.59%.

Wall Street Analysts Forecast Growth

KO has been the subject of several analyst reports. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Piper Sandler lifted their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley increased their target price on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.24.

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.