The Coca-Cola Company (NYSE:KO) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in The Coca-Cola Company (NYSE:KO) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,063,560 shares of the company’s stock after selling 551,868 shares during the quarter. Wellington Management Group LLP owned about 0.72% of Coca-Cola worth $1,934,017,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KO. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola during the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola during the fourth quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the fourth quarter worth $37,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola during the fourth quarter worth $38,000. Finally, MilWealth Group LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $70.36 on Monday. The firm’s 50 day moving average is $67.77 and its two-hundred day moving average is $66.38. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. 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 firm has a market capitalization of $302.80 billion, a P/E ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its quarterly 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 return on equity of 45.37% and a net margin of 22.59%. Research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is 82.59%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KO shares. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Evercore ISI lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler upped their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Barclays boosted their price target 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, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.24.

Insider Buying and Selling at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction that occurred on 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 completion of 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 disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 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.