The Coca-Cola Company (NYSE:KO) Stake Cut by Versant Capital Management Inc

Versant Capital Management Inc cut its position in shares of The Coca-Cola Company (NYSE:KOFree Report) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,662 shares of the company’s stock after selling 200 shares during the quarter. Versant Capital Management Inc’s holdings in Coca-Cola were worth $157,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KO. Fairfield Bush & CO. acquired a new stake in Coca-Cola in the first quarter worth $77,000. Merit Financial Group LLC increased its holdings in shares of Coca-Cola by 16.7% during the first quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock valued at $758,000 after purchasing an additional 1,754 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Coca-Cola by 41.4% during the first quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after purchasing an additional 43,680 shares during the period. Ergoteles LLC increased its holdings in shares of Coca-Cola by 385.3% during the first quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock valued at $1,180,000 after purchasing an additional 15,110 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of Coca-Cola by 11.9% during the first quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after purchasing an additional 301,804 shares during the period. 68.96% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders sold 467,435 shares of company stock worth $28,230,915 in the last quarter. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Barclays raised their price target on Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Finally, Citigroup lifted their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Check Out Our Latest Research Report on KO

Coca-Cola Trading Down 1.0 %

Shares of NYSE:KO traded down $0.62 during midday trading on Friday, reaching $59.88. The company had a trading volume of 36,849,077 shares, compared to its average volume of 14,275,774. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.99. The firm has a market cap of $258.23 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59. The company has a fifty day simple moving average of $59.99 and a two-hundred day simple moving average of $58.26.

Coca-Cola (NYSE:KOGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the company posted $0.45 EPS. Coca-Cola’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.24%. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Coca-Cola Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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