Hoertkorn Richard Charles Has $287,000 Stake in The Coca-Cola Company (NYSE:KO)

Hoertkorn Richard Charles lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,605 shares of the company’s stock after selling 350 shares during the quarter. Hoertkorn Richard Charles’ holdings in Coca-Cola were worth $287,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Coca-Cola during the fourth quarter worth $3,402,151,000. Charles Schwab Investment Management Inc. increased its holdings 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 fourth quarter valued at about $500,192,000. Wellington Management Group LLP boosted its stake in shares of Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of KO stock opened at $70.80 on Friday. The company’s fifty day moving average price is $67.62 and its 200-day moving average price is $66.46. The stock has a market cap of $304.70 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. On average, equities analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal 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 issued a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Evercore ISI raised their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $75.00 and gave the company 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 objective on the stock in a research note on Wednesday, January 8th. Finally, DZ Bank upgraded 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. Two research 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 company’s stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Henrique Braun sold 25,277 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. 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 in the last quarter. 0.97% of the stock is owned by insiders.

About Coca-Cola

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.