Simplicity Wealth LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Simplicity Wealth LLC trimmed its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 85.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,600 shares of the company's stock after selling 31,887 shares during the period. Simplicity Wealth LLC's holdings in Coca-Cola were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC raised its holdings in shares of Coca-Cola by 0.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company's stock valued at $28,716,000 after purchasing an additional 2,069 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Coca-Cola in the 3rd quarter valued at about $1,200,000. United Bank raised its holdings in shares of Coca-Cola by 65.4% in the 3rd quarter. United Bank now owns 80,888 shares of the company's stock valued at $5,813,000 after purchasing an additional 31,979 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Coca-Cola by 7.0% in the 3rd quarter. Assetmark Inc. now owns 109,065 shares of the company's stock valued at $7,837,000 after purchasing an additional 7,099 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its holdings in shares of Coca-Cola by 150.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 9,534 shares of the company's stock valued at $685,000 after purchasing an additional 5,727 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

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Coca-Cola Stock Performance

Shares of KO stock traded down $0.45 during trading hours on Tuesday, hitting $71.00. The company's stock had a trading volume of 28,069,766 shares, compared to its average volume of 14,037,215. The company has a 50 day moving average of $65.55 and a 200 day moving average of $66.57. The stock has a market cap of $305.37 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. 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 $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Friday, March 14th. Coca-Cola's dividend payout ratio is 82.59%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KO. 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. Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. TD Cowen upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Barclays boosted their price objective 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. Finally, Morgan Stanley boosted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Two research 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.24.

Insider Activity

In related news, CEO James Quincey sold 145,435 shares of the stock in a transaction on 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 approximately $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold 288,146 shares of company stock valued at $20,456,524 in the last ninety days. Insiders own 0.97% of the company's stock.

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.