Amica Mutual Insurance Co. Sells 20,012 Shares of The Coca-Cola Company (NYSE:KO)

Amica Mutual Insurance Co. cut its stake in The Coca-Cola Company (NYSE:KO) by 24.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,341 shares of the company’s stock after selling 20,012 shares during the quarter. Amica Mutual Insurance Co.’s holdings in Coca-Cola were worth $3,757,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola during the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola during the 4th quarter worth approximately $31,000. Murphy & Mullick Capital Management Corp bought a new stake in Coca-Cola in the 4th quarter valued at $38,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the 4th quarter worth $37,000. Finally, MilWealth Group LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

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 stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 145,435 shares of the firm’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 completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock valued at $22,263,071 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of a number of analyst reports. Barclays increased their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Finally, Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Stock Performance

Coca-Cola stock opened at $70.02 on Thursday. The firm has a market capitalization of $301.32 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The firm’s 50 day simple moving average is $67.45 and its 200 day simple moving average is $66.43. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

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

Coca-Cola Company 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.