Saratoga Research & Investment Management Sells 2,225 Shares of The Coca-Cola Company (NYSE:KO)

Saratoga Research & Investment Management decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,167 shares of the company’s stock after selling 2,225 shares during the quarter. Saratoga Research & Investment Management’s holdings in Coca-Cola were worth $5,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KO. Norges Bank purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $3,402,151,000. Charles Schwab Investment Management Inc. lifted its stake in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. bought a new position in Coca-Cola in the 4th quarter valued at $500,192,000. Wellington Management Group LLP increased its holdings 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 purchasing an additional 4,013,996 shares during the period. Finally, Geode Capital Management LLC raised its position 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 buying an additional 2,966,964 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. The trade was a 18.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Performance

Coca-Cola stock opened at $70.36 on Monday. The stock has a market cap of $302.80 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 3.79 and a beta of 0.57. 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 stock’s 50 day simple moving average is $67.77 and its two-hundred day simple moving average is $66.38. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly 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 return on equity of 45.37% and a net margin of 22.59%. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley boosted their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. 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 upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, 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 report on Wednesday, January 8th. Two equities 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. According to data from MarketBeat, 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.