Evercore Wealth Management LLC Sells 22,522 Shares of The Coca-Cola Company (NYSE:KO)

Evercore Wealth Management LLC lowered its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 145,775 shares of the company's stock after selling 22,522 shares during the quarter. Evercore Wealth Management LLC's holdings in Coca-Cola were worth $9,076,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. Norges Bank acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $3,402,151,000. Franklin Resources Inc. lifted its position in Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. Capital International Investors boosted its stake in Coca-Cola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Coca-Cola by 18.2% in the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock valued at $1,529,537,000 after buying an additional 3,791,300 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Henrique Braun sold 25,277 shares of the business's 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 of the company's stock, 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 313,423 shares of company stock valued at $22,263,071. Insiders own 0.97% of the company's stock.

Coca-Cola Stock Down 1.1 %

Coca-Cola stock traded down $0.83 during mid-day trading on Friday, hitting $71.69. The company's stock had a trading volume of 1,005,852 shares, compared to its average volume of 15,334,862. The company has a market cap of $308.51 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. 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 firm's 50 day moving average is $70.72 and its 200 day moving average is $66.50.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (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%. On average, analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Friday, March 14th. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio is 82.59%.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent analyst reports. Evercore ISI raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Morgan Stanley boosted their target price on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Piper Sandler upped their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their target price on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $75.06.

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.