Tucker Asset Management LLC Sells 1,037 Shares of The Coca-Cola Company (NYSE:KO)

Tucker Asset Management LLC trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 21.4% in the fourth quarter, HoldingsChannel reports. The fund owned 3,813 shares of the company’s stock after selling 1,037 shares during the period. Tucker Asset Management LLC’s holdings in Coca-Cola were worth $237,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in KO. Transamerica Financial Advisors Inc. increased its stake in Coca-Cola by 16.1% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 15,703 shares of the company’s stock worth $978,000 after purchasing an additional 2,183 shares during the period. Intrust Bank NA raised its position in Coca-Cola by 3.9% during the 4th quarter. Intrust Bank NA now owns 29,132 shares of the company’s stock valued at $1,814,000 after purchasing an additional 1,090 shares during the last quarter. Allstate Corp grew its position in shares of Coca-Cola by 2,983.3% in the 4th quarter. Allstate Corp now owns 121,728 shares of the company’s stock worth $7,579,000 after buying an additional 117,780 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Coca-Cola by 1.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 218,894 shares of the company’s stock valued at $13,628,000 after acquiring an additional 3,859 shares in the last quarter. Finally, RiverFront Investment Group LLC increased its position in Coca-Cola by 16.4% during the 4th quarter. RiverFront Investment Group LLC now owns 122,309 shares of the company’s stock valued at $7,615,000 after purchasing an additional 17,263 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction 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 directly owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock valued at $22,263,071 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Down 0.5 %

KO opened at $70.36 on Friday. The firm’s 50 day simple moving average is $67.77 and its two-hundred day simple moving average is $66.45. The company has a market capitalization of $302.80 billion, a PE ratio of 28.49, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year 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.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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%. As a group, equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler increased their price target 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. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, February 13th. UBS Group increased their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Morgan Stanley increased their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.24.

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.