Achmea Investment Management B.V. Sells 19,662 Shares of The Coca-Cola Company (NYSE:KO)

Achmea Investment Management B.V. trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 8.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 213,445 shares of the company’s stock after selling 19,662 shares during the quarter. Achmea Investment Management B.V.’s holdings in Coca-Cola were worth $13,289,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KO. JPMorgan Chase & Co. cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Piper Sandler lifted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. UBS Group increased their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, 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 note on Thursday, December 12th. 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. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Trading Down 0.5 %

NYSE KO opened at $69.59 on Friday. The company has a market cap of $299.29 billion, a P/E ratio of 28.17, a P/E/G 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 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 50-day moving average of $66.03 and a 200-day moving average of $66.63.

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

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. 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. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is 82.59%.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction 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 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 position. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock worth $22,263,071 over the last three months. 0.97% of the stock is owned by insiders.

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.