State of Tennessee Department of Treasury Decreases Stake in The Coca-Cola Company (NYSE:KO)

State of Tennessee Department of Treasury lessened its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 4.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,486,684 shares of the company's stock after selling 64,229 shares during the quarter. State of Tennessee Department of Treasury's holdings in Coca-Cola were worth $92,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola during the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the fourth quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth $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 holdings in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after acquiring an additional 181 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Activity

In other news, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction, the insider now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

KO has been the topic of a number of recent research reports. Barclays restated an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, TD Cowen 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 note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $75.06.

Coca-Cola Stock Down 1.1 %

Shares of Coca-Cola stock traded down $0.79 during trading on Thursday, hitting $72.51. 16,878,196 shares of the stock traded hands, compared to its average volume of 15,405,020. 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 stock's fifty day simple moving average is $70.65 and its 200 day simple moving average is $66.47. The firm has a market cap of $312.05 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The Coca-Cola Company has a 52-week low of $59.84 and a 52-week high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating 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%. On average, equities analysts predict 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. Shareholders of record on Friday, March 14th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.81%. 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. Coca-Cola's dividend payout ratio (DPR) is 82.59%.

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.