The Coca-Cola Company (NYSE:KO) Position Trimmed by Montag & Caldwell LLC

Montag & Caldwell LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 31.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,503 shares of the company's stock after selling 56,515 shares during the quarter. Coca-Cola comprises approximately 1.6% of Montag & Caldwell LLC's portfolio, making the stock its 25th biggest holding. Montag & Caldwell LLC's holdings in Coca-Cola were worth $7,689,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola during the 4th quarter worth $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $37,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Coca-Cola during the 4th quarter valued at about $38,000. Finally, Hoey Investments Inc. lifted its position in Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Transactions at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value 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. This trade represents a 32.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the company's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,423 shares of company stock valued at $22,263,071. Corporate insiders own 0.90% of the company's stock.

Coca-Cola Stock Performance

Shares of NYSE KO traded up $1.31 during midday trading on Friday, hitting $72.99. 20,745,798 shares of the company's stock were exchanged, compared to its average volume of 15,409,159. The firm has a market cap of $314.13 billion, a P/E ratio of 29.55, a PEG ratio of 3.79 and a beta of 0.45. 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 Coca-Cola Company has a twelve month low of $59.00 and a twelve month high of $73.95. The stock's 50 day moving average price is $70.39 and its 200-day moving average price is $66.42.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly 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%. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. Coca-Cola's dividend payout ratio (DPR) is 82.59%.

Analysts Set New Price Targets

A number of research firms recently weighed in on KO. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a report on Tuesday. Royal Bank of Canada restated an "outperform" rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. TD Cowen raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $74.59.

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.