The Coca-Cola Company (NYSE:KO) Shares Sold by Lincoln National Corp

Lincoln National Corp reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,560 shares of the company’s stock after selling 1,662 shares during the quarter. Lincoln National Corp’s holdings in Coca-Cola were worth $4,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Pennsylvania Capital Management Inc. ADV bought a new position in shares of Coca-Cola during the third quarter valued at approximately $207,000. FORVIS Wealth Advisors LLC grew its stake in Coca-Cola by 49.7% during the 3rd quarter. FORVIS Wealth Advisors LLC now owns 70,116 shares of the company’s stock worth $3,925,000 after buying an additional 23,270 shares during the last quarter. WESPAC Advisors LLC increased its position in Coca-Cola by 0.8% in the third quarter. WESPAC Advisors LLC now owns 32,679 shares of the company’s stock worth $1,829,000 after buying an additional 255 shares during the period. Calamos Advisors LLC lifted its stake in Coca-Cola by 0.6% in the third quarter. Calamos Advisors LLC now owns 1,272,577 shares of the company’s stock valued at $71,239,000 after buying an additional 7,966 shares during the last quarter. Finally, Access Financial Services Inc. boosted its stake in Coca-Cola by 3.9% during the 3rd quarter. Access Financial Services Inc. now owns 27,728 shares of the company’s stock valued at $1,552,000 after purchasing an additional 1,035 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO James Quincey sold 247,188 shares of the company’s 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 approximately $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the business’s 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 247,188 shares of the company’s 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 completion of 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. Over the last quarter, insiders have sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KO shares. Barclays raised their target price on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup lifted their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. UBS Group increased their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Evercore ISI boosted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.19 during midday trading on Monday, reaching $62.36. The company’s stock had a trading volume of 9,309,869 shares, compared to its average volume of 13,967,127. The company has a market cap of $268.64 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.25. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average price of $60.28 and a 200 day moving average price of $59.25.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. On average, equities research analysts expect that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.11%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.