The Coca-Cola Company (NYSE:KO) Shares Sold by Somerville Kurt F

Somerville Kurt F decreased its stake in The Coca-Cola Company (NYSE:KO) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,370 shares of the company’s stock after selling 1,120 shares during the period. Somerville Kurt F’s holdings in Coca-Cola were worth $1,206,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola in the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola during the 4th quarter worth about $38,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth about $37,000. Finally, Hoey Investments Inc. boosted its position in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after acquiring an additional 181 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

NYSE KO opened at $73.18 on Friday. The firm has a market capitalization of $314.91 billion, a PE ratio of 29.63, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.95. The company’s 50 day simple moving average is $68.57 and its 200 day simple moving average is $66.47.

Coca-Cola (NYSE:KO) last posted 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%. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.51 dividend. This is an increase 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 2.79%. The ex-dividend date was Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. reduced their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Insider Buying and Selling

In other news, insider Bruno Pietracci sold 19,058 shares of the business’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 transaction 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 transaction of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, 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 worth $22,263,071. Corporate insiders own 0.97% of the company’s stock.

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.