Atlanta Consulting Group Advisors LLC Sells 8,708 Shares of The Coca-Cola Company (NYSE:KO)

Atlanta Consulting Group Advisors LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KOFree Report) by 11.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 68,656 shares of the company’s stock after selling 8,708 shares during the quarter. Coca-Cola comprises about 1.6% of Atlanta Consulting Group Advisors LLC’s investment portfolio, making the stock its 12th largest position. Atlanta Consulting Group Advisors LLC’s holdings in Coca-Cola were worth $4,275,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC grew its position in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares during the period. Geode Capital Management LLC grew its position in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. Wellington Management Group LLP grew its position in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after purchasing an additional 1,609,565 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were 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. In the last ninety days, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KO. Barclays boosted their price objective on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Morgan Stanley boosted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Finally, Piper Sandler upped their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

View Our Latest Report on KO

Coca-Cola Stock Down 0.7 %

Shares of KO stock opened at $69.16 on Monday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm’s 50-day moving average is $66.18 and its 200-day moving average is $66.54. The stock has a market cap of $297.47 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KOGet Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Sell-side analysts predict 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. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. 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. Coca-Cola’s dividend payout ratio is presently 82.59%.

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.

See Also

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KOFree Report).

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

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