The Coca-Cola Company (NYSE:KO) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. cut its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,825 shares of the company's stock after selling 17,930 shares during the period. Coca-Cola makes up about 1.4% of Sompo Asset Management Co. Ltd.'s portfolio, making the stock its 15th biggest holding. Sompo Asset Management Co. Ltd.'s holdings in Coca-Cola were worth $8,581,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KO. Rice Partnership LLC boosted its holdings in Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock valued at $6,397,000 after acquiring an additional 6,793 shares during the period. Fiduciary Alliance LLC lifted its holdings in Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock valued at $1,132,000 after buying an additional 8,499 shares in the last quarter. Clark & Stuart Inc purchased a new stake in Coca-Cola in the 4th quarter valued at about $1,582,000. Wilmington Savings Fund Society FSB increased its position in shares of Coca-Cola by 222.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company's stock worth $13,814,000 after acquiring an additional 132,701 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Coca-Cola by 1.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company's stock valued at $55,610,000 after acquiring an additional 8,810 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and boosted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Wells Fargo & Company increased their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of "Buy" and an average price target of $75.06.

Coca-Cola Stock Performance

KO traded down $0.56 on Friday, reaching $71.96. The stock had a trading volume of 16,313,300 shares, compared to its average volume of 15,377,539. 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 Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The business's 50-day moving average price is $70.72 and its two-hundred day moving average price is $66.50. The company has a market cap of $309.68 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly 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 return on equity of 45.37% and a net margin of 22.59%. Sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.83%. Coca-Cola's dividend payout ratio is currently 82.59%.

Insider Activity

In other news, insider Bruno Pietracci sold 19,058 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Henrique Braun sold 25,277 shares of the business's stock in a transaction that occurred on 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 sale, the chief operating officer now owns 52,466 shares of the company's stock, valued at $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 over the last 90 days. 0.97% of the stock is currently owned by company 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.