GQG Partners LLC Sells 30,795,824 Shares of The Coca-Cola Company (NYSE:KO)

GQG Partners LLC lessened its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 81.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,997,188 shares of the company's stock after selling 30,795,824 shares during the quarter. GQG Partners LLC owned 0.16% of Coca-Cola worth $435,645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Crowley Wealth Management Inc. bought a new position in Coca-Cola during the 4th quarter valued at about $27,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola in the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $37,000. MilWealth Group LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $40,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $43,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Up 0.8 %

KO traded up $0.58 during midday trading on Thursday, reaching $70.60. 5,118,205 shares of the company were exchanged, compared to its average volume of 14,032,056. The company has a market cap of $303.81 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company's fifty day moving average price is $67.45 and its 200 day moving average price is $66.43.

Remove Ads

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate 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, analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.89%. Coca-Cola's payout ratio is currently 82.59%.

Insider Activity at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the business'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 completion of the transaction, the insider now directly owns 246,909 shares of the company's stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KO shares. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. UBS Group increased their price target on Coca-Cola from $72.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Evercore ISI lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.24.

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.