Highland Capital Management LLC Sells 2,875 Shares of The Coca-Cola Company (NYSE:KO)

Highland Capital Management LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,513 shares of the company’s stock after selling 2,875 shares during the period. Highland Capital Management LLC’s holdings in Coca-Cola were worth $3,154,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in KO. Insigneo Advisory Services LLC grew its stake in shares of Coca-Cola by 12.2% during the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after acquiring an additional 4,527 shares during the period. HF Advisory Group LLC increased its stake in shares of Coca-Cola by 7.6% in the third quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock worth $379,000 after purchasing an additional 476 shares in the last quarter. Wahed Invest LLC raised its position in shares of Coca-Cola by 10.3% in the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after purchasing an additional 5,707 shares during the period. Tucker Asset Management LLC lifted its stake in shares of Coca-Cola by 110.4% during the 2nd quarter. Tucker Asset Management LLC now owns 9,052 shares of the company’s stock valued at $545,000 after buying an additional 4,749 shares in the last quarter. Finally, Cohen Lawrence B boosted its holdings in Coca-Cola by 2.8% in the 3rd quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock worth $2,288,000 after buying an additional 1,111 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO stock traded up $0.59 during trading on Wednesday, hitting $61.13. The company had a trading volume of 2,662,204 shares, compared to its average volume of 14,033,932. The stock’s 50-day moving average is $60.03 and its two-hundred day moving average is $58.29. The stock has a market capitalization of $263.54 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 3.43 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.99.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be paid a $0.485 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.17%. Coca-Cola’s dividend payout ratio is 78.23%.

Wall Street Analyst Weigh In

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

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated Thursday, February 22nd. The stock was 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 in the company, valued at $26,968,753.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on 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 directly owns 442,546 shares in the company, valued at $26,968,753.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 375,407 shares of company stock valued at $22,795,742. 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.