Pallas Capital Advisors LLC Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Pallas Capital Advisors LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KOFree Report) by 38.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 69,251 shares of the company’s stock after selling 42,607 shares during the period. Pallas Capital Advisors LLC’s holdings in Coca-Cola were worth $4,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Fairfield Bush & CO. acquired a new position in Coca-Cola during the 1st quarter worth approximately $77,000. Merit Financial Group LLC grew its holdings in shares of Coca-Cola by 16.7% in the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after acquiring an additional 1,754 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock worth $9,255,000 after acquiring an additional 43,680 shares during the period. Ergoteles LLC grew its holdings in shares of Coca-Cola by 385.3% in the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock worth $1,180,000 after acquiring an additional 15,110 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of Coca-Cola by 11.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock worth $176,115,000 after acquiring an additional 301,804 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.8 %

Shares of NYSE KO opened at $60.68 on Tuesday. The stock has a fifty day moving average price of $60.13 and a 200 day moving average price of $58.38. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market cap of $261.60 billion, a P/E ratio of 24.47, a P/E/G ratio of 3.47 and a beta of 0.59. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99.

Coca-Cola (NYSE:KOGet Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. Research analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.20%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 375,407 shares of company stock worth $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KO. Barclays upped their price target on Coca-Cola from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. upped their price target on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, Citigroup upped their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Read Our Latest Analysis on Coca-Cola

Coca-Cola Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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