Silvercrest Asset Management Group LLC Reduces Stock Holdings in The Coca-Cola Company (NYSE:KO)

Silvercrest Asset Management Group LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 416,048 shares of the company’s stock after selling 1,832 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Coca-Cola were worth $25,903,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in Coca-Cola during the fourth quarter worth about $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola during the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola during the fourth quarter worth about $37,000. Murphy & Mullick Capital Management Corp purchased a new position in Coca-Cola during the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. boosted its stake in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after buying an additional 181 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, 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 transaction of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 462,407 shares of company stock worth $32,990,056. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.6%

KO stock opened at $72.01 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company’s 50 day moving average is $70.88 and its two-hundred day moving average is $66.76. The stock has a market cap of $309.93 billion, a P/E ratio of 29.15, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler increased their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Royal Bank of Canada increased their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Evercore ISI increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley increased their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $75.59.

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.