The Coca-Cola Company (NYSE:KO) Shares Sold by HS Management Partners LLC

HS Management Partners LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,212,365 shares of the company’s stock after selling 94,184 shares during the period. Coca-Cola comprises approximately 5.2% of HS Management Partners LLC’s investment portfolio, making the stock its 6th biggest holding. HS Management Partners LLC’s holdings in Coca-Cola were worth $75,482,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Mainstream Capital Management LLC acquired a new position in Coca-Cola during the fourth quarter valued at $31,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter valued at $35,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola in the fourth quarter valued at $37,000. MilWealth Group LLC purchased a new position in Coca-Cola in the fourth quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola in the third quarter valued at $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the company’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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,646 shares of company stock worth $16,515,469. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on KO shares. Morgan Stanley lifted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Finally, UBS Group boosted their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Stock Performance

NYSE:KO opened at $70.17 on Thursday. 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 firm has a market capitalization of $301.78 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 3.79 and a beta of 0.61. The company’s 50-day moving average is $65.02 and its two-hundred day moving average is $66.55. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last posted 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 net margin of 22.59% and a return on equity of 45.37%. Analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is currently 82.59%.

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.