The Coca-Cola Company (NYSE:KO) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 28.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,385,943 shares of the company's stock after selling 938,564 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Coca-Cola worth $148,498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in KO. Rahlfs Capital LLC bought a new position in shares of Coca-Cola during the 4th quarter worth $701,000. Wedbush Securities Inc. grew its stake in shares of Coca-Cola by 3.6% in the fourth quarter. Wedbush Securities Inc. now owns 106,849 shares of the company's stock worth $6,652,000 after purchasing an additional 3,707 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Coca-Cola by 1.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,030,302 shares of the company's stock worth $313,187,000 after buying an additional 94,103 shares in the last quarter. Aviva PLC lifted its position in Coca-Cola by 0.9% during the 4th quarter. Aviva PLC now owns 2,950,753 shares of the company's stock valued at $183,714,000 after acquiring an additional 27,454 shares during the period. Finally, KCM Investment Advisors LLC grew its position in Coca-Cola by 1.7% during the 4th quarter. KCM Investment Advisors LLC now owns 51,856 shares of the company's stock valued at $3,229,000 after purchasing an additional 858 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Up 0.0 %

NYSE KO traded up $0.02 during trading hours on Wednesday, hitting $68.44. 9,283,428 shares of the company were exchanged, compared to its average volume of 15,164,617. The company has a 50 day moving average of $69.03 and a two-hundred day moving average of $66.35. The firm has a market cap of $294.54 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 3.79 and a beta of 0.45. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.95. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

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

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.98%. Coca-Cola's dividend payout ratio is 82.59%.

Wall Street Analysts Forecast Growth

KO has been the topic of several research reports. Morgan Stanley raised their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. TD Cowen raised 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. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Two 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.24.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the company's 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 disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 in the last quarter. 0.97% of the stock is owned by insiders.

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.