The Coca-Cola Company (NYSE:KO) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its position in The Coca-Cola Company (NYSE:KO) by 11.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,107,313 shares of the company’s stock after selling 947,796 shares during the period. Bank of Montreal Can owned 0.16% of Coca-Cola worth $442,501,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KO. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola in the fourth quarter valued at about $27,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola during the 4th quarter valued at approximately $31,000. Murphy & Mullick Capital Management Corp acquired a new stake in Coca-Cola during the 4th quarter worth approximately $38,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $37,000. Finally, Hoey Investments Inc. raised its stake in shares of Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 4.5 %

Shares of NYSE KO opened at $69.87 on Monday. The firm has a market cap of $300.67 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. 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 Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.95. The firm’s 50 day moving average price is $68.72 and its 200 day moving average price is $66.38.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.51 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 55,500 shares of Coca-Cola stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at $17,533,008.09. The trade was a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the stock in a transaction on Tuesday, March 11th. The stock was 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 directly 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. Over the last three months, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KO. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Morgan Stanley lifted their price target 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, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Two equities research 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. According to MarketBeat, the company presently 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.