The Coca-Cola Company (NYSE:KO) Shares Sold by Biltmore Family Office LLC

Biltmore Family Office LLC cut its position in The Coca-Cola Company (NYSE:KO) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,311 shares of the company’s stock after selling 159 shares during the period. Biltmore Family Office LLC’s holdings in Coca-Cola were worth $1,265,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in Coca-Cola during the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth $31,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola during the fourth quarter worth $38,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the fourth quarter valued at $37,000. Finally, Hoey Investments Inc. boosted its holdings in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KO shares. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. decreased their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Morgan Stanley raised their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Barclays boosted their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company raised their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $71.46 on Thursday. The stock has a market capitalization of $307.53 billion, a P/E ratio of 28.93, a PEG ratio of 3.79 and a beta of 0.57. The business has a 50 day simple moving average of $68.33 and a two-hundred day simple moving average of $66.42. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 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 predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.51 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Buying and Selling

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. The trade was a 32.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by insiders.

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.