The Coca-Cola Company (NYSE:KO) Stock Position Reduced by FCA Corp TX

FCA Corp TX cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,647 shares of the company’s stock after selling 158 shares during the period. FCA Corp TX’s holdings in Coca-Cola were worth $227,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Charles Schwab Investment Management Inc. grew its position in Coca-Cola by 18.5% during 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 purchasing an additional 11,569,920 shares in the last quarter. FMR LLC grew its position in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Coca-Cola in the fourth quarter worth approximately $500,192,000. Wellington Management Group LLP grew its position in 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 in the last quarter. Finally, Geode Capital Management LLC grew its position in 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 in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. 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 report on Wednesday, February 12th. UBS Group boosted their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Barclays boosted their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research 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 report 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 objective for the company in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Price Performance

NYSE:KO opened at $68.58 on Friday. The company has a 50-day moving average of $67.00 and a 200-day moving average of $66.48. The company has a market capitalization of $295.12 billion, a price-to-earnings ratio of 27.76, 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.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.97%. 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 dividend payout ratio (DPR) is presently 82.59%.

Insider Transactions at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares of the company’s stock, valued at $3,749,745.02. The trade was a 32.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 313,423 shares of company stock valued at $22,263,071. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.