Whittier Trust Co. Reduces Stock Position in The Coca-Cola Company (NYSE:KO)

Whittier Trust Co. cut its stake in The Coca-Cola Company (NYSE:KO) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 191,723 shares of the company’s stock after selling 1,773 shares during the quarter. Whittier Trust Co.’s holdings in Coca-Cola were worth $11,937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fort Sheridan Advisors LLC grew its holdings in Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after buying an additional 161 shares in the last quarter. Wells Trecaso Financial Group LLC boosted its position in shares of Coca-Cola by 4.8% during the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after acquiring an additional 164 shares during the last quarter. Atlas Brown Inc. grew its stake in Coca-Cola by 0.8% during the fourth quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock valued at $1,309,000 after acquiring an additional 166 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in Coca-Cola by 0.4% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,198 shares of the company’s stock valued at $2,440,000 after acquiring an additional 169 shares during the last quarter. Finally, Great Diamond Partners LLC lifted its stake in Coca-Cola by 1.7% in the 4th quarter. Great Diamond Partners LLC now owns 10,314 shares of the company’s stock worth $642,000 after purchasing an additional 169 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.5 %

Shares of NYSE KO opened at $69.63 on Friday. The business’s 50 day moving average price is $66.85 and its 200-day moving average price is $66.55. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market cap of $299.47 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. On average, sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 2.93%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is currently 82.59%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised 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 report on Thursday, December 12th. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, DZ Bank raised shares of 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 Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $74.24.

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.