Hilton Capital Management LLC Sells 21,073 Shares of The Coca-Cola Company (NYSE:KO)

Hilton Capital Management LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 11.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 159,125 shares of the company’s stock after selling 21,073 shares during the period. Hilton Capital Management LLC’s holdings in Coca-Cola were worth $9,907,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KO. Mainstream Capital Management LLC bought a new position in Coca-Cola during the 4th quarter worth $31,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the 4th quarter worth $37,000. MilWealth Group LLC bought a new position in shares of Coca-Cola in the 4th quarter valued at $40,000. MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the 3rd quarter valued at $43,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Coca-Cola in the 4th quarter valued at $43,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. The trade was a 29.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the business’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 completion of the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock valued at $22,263,071 in the last ninety days. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on KO. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Morgan Stanley lifted their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Stock Down 0.5 %

Shares of KO opened at $69.59 on Friday. The company has a market capitalization of $299.29 billion, a PE ratio of 28.17, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock’s 50-day moving average price is $66.03 and its two-hundred day moving average price is $66.63. 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 announced its quarterly earnings data 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 return on equity of 45.37% and a net margin of 22.59%. On average, analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is currently 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.