PGGM Investments Reduces Position in The Coca-Cola Company (NYSE:KO)

PGGM Investments cut its position in shares of The Coca-Cola Company (NYSE:KO) by 2.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 424,937 shares of the company’s stock after selling 11,023 shares during the quarter. PGGM Investments’ holdings in Coca-Cola were worth $25,042,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KO. Insigneo Advisory Services LLC boosted its position in Coca-Cola by 12.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after buying an additional 4,527 shares during the period. HF Advisory Group LLC boosted its position in Coca-Cola by 7.6% in the 3rd quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock valued at $379,000 after buying an additional 476 shares during the period. Wahed Invest LLC boosted its position in Coca-Cola by 10.3% in the 3rd quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after buying an additional 5,707 shares during the period. Cohen Lawrence B boosted its position in Coca-Cola by 2.8% in the 3rd quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock valued at $2,288,000 after buying an additional 1,111 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Coca-Cola by 3.2% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock valued at $2,738,000 after buying an additional 1,455 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE:KO remained flat at $61.74 during midday trading on Friday. 10,994,262 shares of the company were exchanged, compared to its average volume of 12,842,353. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.69. The firm has a 50-day moving average price of $60.12 and a 200-day moving average price of $58.82. 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 company has a market cap of $266.17 billion, a PE ratio of 24.90, a PEG ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. Coca-Cola’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given 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 of this dividend was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. Coca-Cola’s dividend payout ratio is presently 78.23%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 over the last 90 days. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on KO. Citigroup boosted their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. lowered their price target on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Finally, Barclays upped their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.22.

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.