VELA Investment Management LLC Sells 937 Shares of The Coca-Cola Company (NYSE:KO)

VELA Investment Management LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 19.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,858 shares of the company’s stock after selling 937 shares during the quarter. VELA Investment Management LLC’s holdings in Coca-Cola were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairfield Bush & CO. bought a new stake in shares of Coca-Cola during the 1st quarter valued at $77,000. Merit Financial Group LLC lifted its holdings in shares of Coca-Cola by 16.7% in the first quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after buying an additional 1,754 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Coca-Cola by 41.4% in the first quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after acquiring an additional 43,680 shares during the period. Ergoteles LLC grew its stake in 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 acquiring an additional 15,110 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Coca-Cola by 11.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock worth $176,115,000 after acquiring an additional 301,804 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO traded up $0.11 during mid-day trading on Tuesday, hitting $58.25. 1,978,426 shares of the company traded hands, compared to its average volume of 13,683,127. The stock has a 50-day moving average price of $60.01 and a two-hundred day moving average price of $58.51. The stock has a market cap of $251.13 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 3.31 and a beta of 0.59. 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.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. Equities analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.485 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.33%. Coca-Cola’s payout ratio is 78.23%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays boosted their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup lifted their target price 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.18.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 SEC, which is available at this hyperlink. In related news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the transaction, the executive vice president now directly owns 143,383 shares in the company, valued at approximately $8,602,980. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 375,407 shares of company stock worth $22,795,742. Corporate insiders own 0.97% of the company’s stock.

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.