Oak Asset Management LLC Sells 525 Shares of The Coca-Cola Company (NYSE:KO)

Oak Asset Management LLC cut its position in The Coca-Cola Company (NYSE:KOFree Report) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,208 shares of the company’s stock after selling 525 shares during the quarter. Oak Asset Management LLC’s holdings in Coca-Cola were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. State Street Corp raised its position in Coca-Cola by 1.0% in the 2nd quarter. State Street Corp now owns 171,246,926 shares of the company’s stock worth $10,390,407,000 after purchasing an additional 1,628,772 shares during the period. Morgan Stanley raised its position in Coca-Cola by 2.5% in the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after purchasing an additional 1,950,146 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 acquiring an additional 2,464,618 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Coca-Cola by 103,297.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock worth $3,672,479,000 after acquiring an additional 57,678,466 shares during the last quarter. Finally, Norges Bank bought a new stake in Coca-Cola in the 4th quarter worth $2,937,315,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Barclays upped their target price on shares of Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Finally, Citigroup upped their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Check Out Our Latest Stock Report on Coca-Cola

Insider Buying and Selling

In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The disclosure for this sale can be found here. In the last quarter, insiders sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

KO stock remained flat at $60.15 during trading on Wednesday. 1,754,724 shares of the company’s stock traded hands, compared to its average volume of 13,935,873. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.99. 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 50 day simple moving average of $60.13 and a two-hundred day simple moving average of $58.39. The firm has a market capitalization of $259.32 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 3.44 and a beta of 0.59.

Coca-Cola (NYSE:KOGet Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.23%. The ex-dividend date was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is presently 78.23%.

Coca-Cola Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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