Gamco Investors INC. ET AL Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Gamco Investors INC. ET AL trimmed its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 318,676 shares of the company's stock after selling 7,814 shares during the period. Gamco Investors INC. ET AL's holdings in Coca-Cola were worth $19,841,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KO. Crowley Wealth Management Inc. purchased a new position in Coca-Cola in the 4th quarter worth $27,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola during the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the fourth quarter worth about $37,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $38,000. Finally, Hoey Investments Inc. increased its stake in shares of Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after buying an additional 181 shares during the period. Institutional investors own 70.26% of the company's stock.

Coca-Cola Price Performance

Coca-Cola stock traded up $1.31 during mid-day trading on Friday, hitting $72.99. The stock had a trading volume of 20,745,798 shares, compared to its average volume of 15,409,159. 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 firm's 50 day moving average is $70.39 and its 200 day moving average is $66.42. The firm has a market capitalization of $314.13 billion, a P/E ratio of 29.55, a P/E/G ratio of 3.79 and a beta of 0.45. The Coca-Cola Company has a one year low of $59.00 and a one year high of $73.95.

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 the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, sell-side analysts forecast 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. Stockholders of record on Friday, March 14th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's payout ratio is 82.59%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group upped their price objective on shares of Coca-Cola from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Morgan Stanley increased their target price 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 boosted their price objective 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. Finally, Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola has an average rating of "Buy" and a consensus price target of $74.59.

Insider Buying and Selling

In other news, CEO James Quincey sold 145,435 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 313,423 shares of company stock worth $22,263,071. 0.90% of the stock is owned by insiders.

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.