The Coca-Cola Company (NYSE:KO) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 19.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 156,220 shares of the company’s stock after selling 37,482 shares during the quarter. Gotham Asset Management LLC’s holdings in Coca-Cola were worth $9,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Peachtree Investment Partners LLC grew its holdings in Coca-Cola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after acquiring an additional 157 shares during the period. Fort Sheridan Advisors LLC increased its stake in Coca-Cola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after purchasing an additional 161 shares in the last quarter. Excalibur Management Corp increased its stake in Coca-Cola by 0.6% in the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after purchasing an additional 161 shares in the last quarter. Wells Trecaso Financial Group LLC increased its stake in Coca-Cola by 4.8% in the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after purchasing an additional 164 shares in the last quarter. Finally, Tradition Wealth Management LLC increased its stake in Coca-Cola by 3.0% in the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock worth $357,000 after purchasing an additional 167 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.8%

Shares of Coca-Cola stock opened at $70.62 on Monday. The firm has a market cap of $303.97 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 3.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a 50-day simple moving average of $70.95 and a 200-day simple moving average of $66.63.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. On average, equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. Coca-Cola’s dividend payout ratio is 81.60%.

Insider Activity

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now directly owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders sold a total of 462,407 shares of company stock worth $32,990,056 in the last three months. 0.97% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KO shares. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Morgan Stanley lifted their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. UBS Group lifted their price target on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $75.59.

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.