The Coca-Cola Company (NYSE:KO) Shares Sold by Nicollet Investment Management Inc.

Nicollet Investment Management Inc. lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 64,092 shares of the company’s stock after selling 1,013 shares during the quarter. Coca-Cola comprises approximately 1.4% of Nicollet Investment Management Inc.’s holdings, making the stock its 25th largest position. Nicollet Investment Management Inc.’s holdings in Coca-Cola were worth $3,990,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Coca-Cola during the fourth quarter worth about $3,402,151,000. Charles Schwab Investment Management Inc. grew its stake 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 worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $500,192,000. Franklin Resources Inc. lifted its stake in Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after buying an additional 4,013,996 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $71.69 on Tuesday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The business’s 50-day moving average price is $67.95 and its two-hundred day moving average price is $66.38. 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 company has a market capitalization of $308.50 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

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

Coca-Cola Increases Dividend

The firm also recently disclosed 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 represents a $2.04 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is presently 82.59%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Evercore ISI lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling

In related news, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 313,423 shares of company stock worth $22,263,071. Corporate insiders own 0.97% of the company’s stock.

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.