Cerity Partners LLC Sells 9,107 Shares of The Coca-Cola Company (NYSE:KO)

Cerity Partners LLC lessened its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 922,995 shares of the company's stock after selling 9,107 shares during the quarter. Cerity Partners LLC's holdings in Coca-Cola were worth $59,728,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Howard Capital Management Group LLC raised its position in Coca-Cola by 0.5% during the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company's stock worth $28,716,000 after acquiring an additional 2,069 shares in the last quarter. Morse Asset Management Inc raised its holdings in shares of Coca-Cola by 25.0% in the 3rd quarter. Morse Asset Management Inc now owns 17,500 shares of the company's stock valued at $1,258,000 after purchasing an additional 3,500 shares during the period. MML Investors Services LLC lifted its stake in Coca-Cola by 1.1% in the 3rd quarter. MML Investors Services LLC now owns 667,141 shares of the company's stock valued at $47,941,000 after purchasing an additional 6,962 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Coca-Cola during the third quarter worth about $3,730,000. Finally, EWA LLC increased its position in Coca-Cola by 9.9% during the third quarter. EWA LLC now owns 4,614 shares of the company's stock worth $332,000 after buying an additional 414 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KO shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and upped their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Coca-Cola currently has an average rating of "Moderate Buy" and an average price target of $74.24.

Remove Ads

Coca-Cola Price Performance

Shares of KO traded up $0.71 during midday trading on Friday, hitting $71.47. The company's stock had a trading volume of 7,830,703 shares, compared to its average volume of 15,268,228. The company's fifty day simple moving average is $69.43 and its two-hundred day simple moving average is $66.36. The stock has a market capitalization of $307.58 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.95.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio (DPR) is currently 82.59%.

Insiders Place Their Bets

In other news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is currently owned by insiders.

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.