Greenwich Wealth Management LLC Trims Holdings in The Coca-Cola Company (NYSE:KO)

Greenwich Wealth Management LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,537 shares of the company’s stock after selling 220 shares during the period. Greenwich Wealth Management LLC’s holdings in Coca-Cola were worth $220,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola in the fourth quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the 4th quarter worth $37,000. MilWealth Group LLC acquired a new position in Coca-Cola during the 4th quarter worth $40,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola during the 3rd quarter worth about $43,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Coca-Cola in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In other news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. This represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 over the last three months. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Down 0.7 %

Shares of NYSE:KO opened at $69.16 on Monday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The stock has a market cap of $297.47 billion, a P/E ratio of 28.00, a P/E/G ratio of 3.79 and a beta of 0.57. The firm has a fifty day moving average price of $66.18 and a 200 day moving average price of $66.54.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping 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%. Sell-side analysts predict that The Coca-Cola Company will post 2.96 EPS 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 paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.95%. The ex-dividend date 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%.

Analysts Set New Price Targets

KO has been the topic of several analyst reports. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, February 13th. Barclays raised their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Morgan Stanley boosted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Finally, Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

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.