The Coca-Cola Company (NYSE:KO) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,991,009 shares of the company's stock after selling 789,110 shares during the quarter. Clearbridge Investments LLC owned approximately 0.19% of Coca-Cola worth $493,971,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in Coca-Cola in the 4th quarter valued at $3,402,151,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after buying an additional 11,569,920 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Coca-Cola during the fourth quarter worth about $500,192,000. Wellington Management Group LLP raised its stake in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Price Performance

Shares of NYSE KO traded up $1.32 during trading on Monday, reaching $71.69. The company had a trading volume of 24,012,229 shares, compared to its average volume of 14,925,514. The stock has a market capitalization of $308.50 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The stock has a 50-day moving average price of $67.77 and a two-hundred day moving average price of $66.38. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

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Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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, sell-side analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's payout ratio is currently 82.59%.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares of the company's stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KO. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. 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 report on Friday, February 28th. Barclays raised their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and boosted their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coca-Cola presently has a consensus rating of "Moderate Buy" and an average target price of $74.24.

Coca-Cola 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.