Syon Capital LLC Cuts Position in The Coca-Cola Company (NYSE:KO)

Syon Capital LLC lowered its position in The Coca-Cola Company (NYSE:KO - Free Report) by 22.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,436 shares of the company's stock after selling 10,058 shares during the period. Syon Capital LLC's holdings in Coca-Cola were worth $2,206,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in Coca-Cola during the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola in the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the 4th quarter worth $37,000. Murphy & Mullick Capital Management Corp acquired a new position in Coca-Cola during the fourth quarter worth $38,000. Finally, Hoey Investments Inc. lifted its holdings in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analyst Weigh In

KO has been the subject of several research analyst reports. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday. Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $75.06.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the stock in a transaction that occurred 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 in the company, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Henrique Braun sold 25,277 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares of the company's stock, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company's stock.

Coca-Cola Trading Down 0.8 %

Shares of Coca-Cola stock traded down $0.56 during mid-day trading on Friday, hitting $71.96. The stock had a trading volume of 16,313,300 shares, compared to its average volume of 15,377,539. The firm has a 50-day moving average of $70.72 and a two-hundred day moving average of $66.50. The firm 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. The company has a quick ratio of 0.84, a current ratio of 1.03 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.

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 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 declared 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 dividend yield of 2.83%. Coca-Cola's dividend payout ratio (DPR) is currently 82.59%.

About Coca-Cola

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.