Meiji Yasuda Asset Management Co Ltd. Cuts Position in The Coca-Cola Company (NYSE:KO)

Meiji Yasuda Asset Management Co Ltd. reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 342,042 shares of the company’s stock after selling 6,546 shares during the quarter. Coca-Cola accounts for 0.8% of Meiji Yasuda Asset Management Co Ltd.’s portfolio, making the stock its 18th largest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Coca-Cola were worth $21,296,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Howard Capital Management Group LLC boosted its position in shares of Coca-Cola by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after buying an additional 2,069 shares during the period. Larson Financial Group LLC grew its position in Coca-Cola by 37.4% in the third quarter. Larson Financial Group LLC now owns 32,462 shares of the company’s stock valued at $2,333,000 after acquiring an additional 8,837 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Coca-Cola by 1.8% during the third quarter. Westfield Capital Management Co. LP now owns 193,948 shares of the company’s stock valued at $13,937,000 after purchasing an additional 3,347 shares during the period. Summit Trail Advisors LLC lifted its position in shares of Coca-Cola by 20.5% during the third quarter. Summit Trail Advisors LLC now owns 26,286 shares of the company’s stock worth $1,901,000 after purchasing an additional 4,470 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Coca-Cola by 39.7% in the third quarter. Fisher Asset Management LLC now owns 6,765,669 shares of the company’s stock valued at $486,181,000 after purchasing an additional 1,921,241 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.4 %

NYSE:KO opened at $68.97 on Tuesday. The firm has a market capitalization of $296.81 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. 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 stock has a 50 day moving average of $67.15 and a 200-day moving average of $66.42.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 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 predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed 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 is 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 2.96%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KO shares. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. UBS Group upped their target price on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. The trade was a 12.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was 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 owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. 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 ninety days. 0.97% of the stock is owned by insiders.

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.