Tortoise Investment Management LLC Has $188,000 Holdings in The Coca-Cola Company (NYSE:KO)

Tortoise Investment Management LLC raised its position in The Coca-Cola Company (NYSE:KO) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,016 shares of the company’s stock after buying an additional 218 shares during the period. Tortoise Investment Management LLC’s holdings in Coca-Cola were worth $188,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. FMR LLC raised its stake in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the last quarter. Wellington Management Group LLP raised 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 worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares in the company, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares of the company’s stock, valued at $17,520,662.64. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,646 shares of company stock worth $16,515,469 over the last quarter. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

KO has been the subject of a number of research analyst reports. Evercore ISI boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Stock Up 0.1 %

Shares of NYSE:KO opened at $71.47 on Tuesday. The company has a market capitalization of $307.39 billion, a PE ratio of 28.93, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a 50 day moving average price of $65.55 and a two-hundred day moving average price of $66.57.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. Analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is 82.59%.

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.