River Global Investors LLP Sells 2,553 Shares of The Coca-Cola Company (NYSE:KO)

River Global Investors LLP lessened its position in The Coca-Cola Company (NYSE:KO) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,582 shares of the company’s stock after selling 2,553 shares during the quarter. River Global Investors LLP’s holdings in Coca-Cola were worth $3,688,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Insigneo Advisory Services LLC boosted its position in Coca-Cola by 12.2% during the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after buying an additional 4,527 shares during the period. Birchcreek Wealth Management LLC boosted its holdings in Coca-Cola by 12.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after acquiring an additional 507 shares during the period. HF Advisory Group LLC grew its position in Coca-Cola by 7.6% during the 3rd quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock worth $379,000 after acquiring an additional 476 shares during the last quarter. Wahed Invest LLC increased its stake in Coca-Cola by 10.3% in the 3rd quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after purchasing an additional 5,707 shares during the period. Finally, Smart Money Group LLC lifted its position in Coca-Cola by 21.6% in the fourth quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after purchasing an additional 877 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on KO. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup boosted their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Evercore ISI upped their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays raised their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, UBS Group increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Insiders have sold a total of 323,107 shares of company stock valued at $19,657,742 in the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Up 0.3 %

Shares of NYSE KO traded up $0.18 during mid-day trading on Friday, hitting $62.17. 11,628,675 shares of the stock traded hands, compared to its average volume of 13,782,690. The stock has a fifty day moving average price of $60.24 and a 200-day moving average price of $59.12. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 1.04. The company has a market cap of $268.03 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 3.54 and a beta of 0.57. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.25.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. Research analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.12%. Coca-Cola’s payout ratio is 77.60%.

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.