Sentry Investment Management LLC Cuts Holdings in The Coca-Cola Company (NYSE:KO)

Sentry Investment Management LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,986 shares of the company’s stock after selling 2,333 shares during the period. Coca-Cola comprises approximately 0.7% of Sentry Investment Management LLC’s investment portfolio, making the stock its 24th biggest holding. Sentry Investment Management LLC’s holdings in Coca-Cola were worth $1,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hara Capital LLC bought a new stake in Coca-Cola during the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the third quarter valued at about $36,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter valued at about $43,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth approximately $37,000. Finally, MilWealth Group LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $40,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Down 1.1 %

Shares of Coca-Cola stock opened at $70.58 on Tuesday. The stock has a market cap of $304.04 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The firm has a fifty day moving average price of $63.87 and a 200 day moving average price of $66.42. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year 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 released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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%. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.89%. 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 dividend payout ratio is currently 78.54%.

Analysts Set New Price Targets

KO has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. 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 data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

About Coca-Cola

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.