Nichols & Pratt Advisers LLP MA Cuts Holdings in The Coca-Cola Company (NYSE:KO)

Nichols & Pratt Advisers LLP MA decreased its position in The Coca-Cola Company (NYSE:KO) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 460,697 shares of the company’s stock after selling 9,292 shares during the period. Coca-Cola accounts for about 1.9% of Nichols & Pratt Advisers LLP MA’s portfolio, making the stock its 19th largest position. Nichols & Pratt Advisers LLP MA’s holdings in Coca-Cola were worth $28,683,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Richard W. Paul & Associates LLC grew its position in shares of Coca-Cola by 2.1% in the fourth quarter. Richard W. Paul & Associates LLC now owns 12,442 shares of the company’s stock valued at $775,000 after purchasing an additional 259 shares during the period. West Michigan Advisors LLC grew its position in shares of Coca-Cola by 3.4% in the fourth quarter. West Michigan Advisors LLC now owns 11,398 shares of the company’s stock valued at $710,000 after purchasing an additional 380 shares during the period. Maripau Wealth Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $234,000. Wiser Advisor Group LLC grew its position in shares of Coca-Cola by 2.8% in the fourth quarter. Wiser Advisor Group LLC now owns 13,889 shares of the company’s stock valued at $865,000 after purchasing an additional 377 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $5,758,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on KO shares. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. UBS Group boosted their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. 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 report on Thursday, February 13th. Wells Fargo & Company boosted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler boosted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were 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 available at this hyperlink. Also, CEO James Quincey sold 145,435 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 232,646 shares of company stock valued at $16,515,469. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $71.20 on Friday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The stock has a market capitalization of $306.22 billion, a P/E ratio of 28.82, a P/E/G ratio of 3.79 and a beta of 0.61. The firm’s 50-day moving average is $64.53 and its two-hundred day moving average is $66.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current 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 is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. 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.