Northcape Wealth Management LLC Sells 1,576 Shares of The Coca-Cola Company (NYSE:KO)

Northcape Wealth Management LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,069 shares of the company’s stock after selling 1,576 shares during the period. Northcape Wealth Management LLC’s holdings in Coca-Cola were worth $2,597,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of KO. ZRC Wealth Management LLC increased its position in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in Coca-Cola during the fourth quarter valued at $30,000. Financial Connections Group Inc. bought a new position in shares of Coca-Cola in the fourth quarter worth about $38,000. Avion Wealth grew its holdings in shares of Coca-Cola by 64.8% in the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after purchasing an additional 322 shares during the last quarter. Finally, Clear Investment Research LLC grew its holdings in shares of Coca-Cola by 36.1% in the third quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after purchasing an additional 246 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO traded down $0.28 during midday trading on Tuesday, hitting $61.76. The company’s stock had a trading volume of 19,343,326 shares, compared to its average volume of 14,053,786. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.69. The firm’s 50 day moving average is $60.17 and its 200-day moving average is $58.96. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a market cap of $266.26 billion, a P/E ratio of 24.88, a P/E/G ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the company earned $0.68 EPS. Coca-Cola’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.485 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is presently 78.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Citigroup upped their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays upped their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.22.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders have sold 323,107 shares of company stock valued at $19,657,742 in the last 90 days. 0.97% of the stock is currently owned by company 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.