The Coca-Cola Company (NYSE:KO) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,205,013 shares of the company's stock after selling 278,003 shares during the period. Prudential Financial Inc. owned approximately 0.10% of Coca-Cola worth $261,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola in the 4th quarter valued at about $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the 4th quarter worth approximately $37,000. MilWealth Group LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $40,000. Finally, Hara Capital LLC increased its holdings in shares of Coca-Cola by 43.7% during the 4th quarter. Hara Capital LLC now owns 691 shares of the company's stock valued at $43,000 after purchasing an additional 210 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

KO traded up $0.78 on Thursday, reaching $70.80. 11,657,614 shares of the company's stock were exchanged, compared to its average volume of 14,063,476. The stock has a market cap of $304.70 billion, a PE ratio of 28.66, a P/E/G ratio of 3.79 and a beta of 0.57. 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 $57.93 and a twelve month high of $73.53. The stock's fifty day moving average price is $67.62 and its 200-day moving average price is $66.46.

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Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Sell-side analysts expect 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 will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a boost 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 dividend yield of 2.88%. Coca-Cola's payout ratio is presently 82.59%.

Insider Activity at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 246,909 shares of the company's stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KO has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Barclays increased their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Piper Sandler upped their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.24.

Coca-Cola Company 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.