Sentry Investment Management LLC Sells 2,333 Shares of The Coca-Cola Company (NYSE:KO)

Sentry Investment Management LLC trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,986 shares of the company’s stock after selling 2,333 shares during the period. Coca-Cola comprises about 0.7% of Sentry Investment Management LLC’s investment portfolio, making the stock its 24th biggest position. Sentry Investment Management LLC’s holdings in Coca-Cola were worth $1,431,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Howard Capital Management Group LLC boosted its holdings in shares of Coca-Cola by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after purchasing an additional 2,069 shares during the last quarter. NorthCrest Asset Manangement LLC increased its holdings in shares of Coca-Cola by 14.3% in the third quarter. NorthCrest Asset Manangement LLC now owns 13,613 shares of the company’s stock worth $978,000 after purchasing an additional 1,698 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Coca-Cola by 12.0% in the third quarter. GHP Investment Advisors Inc. now owns 11,499 shares of the company’s stock worth $826,000 after buying an additional 1,229 shares in the last quarter. Bristlecone Advisors LLC bought a new position in Coca-Cola during the third quarter valued at approximately $224,000. Finally, Custom Index Systems LLC purchased a new position in Coca-Cola during the 3rd quarter valued at approximately $204,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 1.1 %

Shares of KO opened at $70.58 on Tuesday. 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 firm has a market capitalization of $304.04 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 3.79 and a beta of 0.61. The company has a 50-day moving average of $63.87 and a 200 day moving average of $66.42. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (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%. On average, research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. Coca-Cola’s dividend payout ratio is presently 78.54%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. 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 report on Wednesday, February 12th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Finally, UBS Group lifted their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

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.