Noesis Capital Mangement Corp Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

Noesis Capital Mangement Corp lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 7.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,493 shares of the company’s stock after selling 350 shares during the period. Noesis Capital Mangement Corp’s holdings in Coca-Cola were worth $265,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its stake in Coca-Cola by 11,138.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after purchasing an additional 4,933,527 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Coca-Cola by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after purchasing an additional 2,464,618 shares during the period. Northern Trust Corp increased its position in Coca-Cola by 4.8% during the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock valued at $2,514,234,000 after acquiring an additional 2,040,664 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Coca-Cola by 8.2% in the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after buying an additional 1,963,963 shares during the last quarter. Finally, Morgan Stanley grew its position in Coca-Cola by 2.5% during the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after buying an additional 1,950,146 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO stock traded up $0.18 during mid-day trading on Friday, hitting $62.17. The company had a trading volume of 11,628,675 shares, compared to its average volume of 13,782,690. The company has a market capitalization of $268.03 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.57. The stock’s 50 day moving average price is $60.24 and its 200-day moving average price is $59.12. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.95.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. Equities research analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI lifted their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays upped their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup lifted their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, UBS Group raised their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.27.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction 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 $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated 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 completion of the sale, 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 this link. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 323,107 shares of company stock worth $19,657,742. Company insiders own 0.97% of the company’s stock.

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.