Signet Financial Management LLC Sells 2,802 Shares of The Coca-Cola Company (NYSE:KO)

Signet Financial Management LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,351 shares of the company’s stock after selling 2,802 shares during the period. Signet Financial Management LLC’s holdings in Coca-Cola were worth $2,790,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Morgan Stanley grew its holdings in Coca-Cola by 2.5% during the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after purchasing an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Coca-Cola by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock valued at $3,501,789,000 after purchasing an additional 2,464,618 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Coca-Cola by 103,297.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after purchasing an additional 57,678,466 shares during the last quarter. Norges Bank bought a new position in Coca-Cola during the 4th quarter valued at about $2,937,315,000. Finally, Northern Trust Corp grew its holdings in Coca-Cola by 4.8% during the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock valued at $2,514,234,000 after purchasing an additional 2,040,664 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were 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 of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The stock was 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. Over the last three months, insiders have sold 375,407 shares of company stock valued at $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on KO shares. Citigroup upped their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Barclays upped their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.18.

Coca-Cola Price Performance

KO traded down $0.15 during midday trading on Tuesday, hitting $57.99. 5,449,836 shares of the company traded hands, compared to its average volume of 13,733,238. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $250.01 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 3.31 and a beta of 0.59. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.99. The business has a 50 day simple moving average of $60.01 and a two-hundred day simple moving average of $58.51.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. On average, equities analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.485 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

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.