The Coca-Cola Company (NYSE:KO) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 105,678 shares of the company’s stock after selling 3,075 shares during the period. Baxter Bros Inc.’s holdings in Coca-Cola were worth $6,580,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola during the fourth quarter worth approximately $31,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the fourth quarter worth approximately $37,000. MilWealth Group LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at $40,000. Finally, Hara Capital LLC boosted its stake in shares of Coca-Cola by 43.7% during the 4th quarter. Hara Capital LLC now owns 691 shares of the company’s stock worth $43,000 after acquiring an additional 210 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Morgan Stanley upped 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. UBS Group boosted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Evercore ISI lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Two investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $68.97 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The business has a 50 day simple moving average of $67.15 and a 200 day simple moving average of $66.42. The stock has a market cap of $296.81 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate 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 will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 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.