The Coca-Cola Company (NYSE:KO) Position Reduced by Dohj LLC

Dohj LLC trimmed its stake in The Coca-Cola Company (NYSE:KO) by 16.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,174 shares of the company’s stock after selling 5,297 shares during the quarter. Dohj LLC’s holdings in Coca-Cola were worth $1,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Morgan Stanley grew its stake in shares of Coca-Cola by 2.5% in the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after acquiring an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Coca-Cola by 4.1% in the third 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 lifted its position in Coca-Cola by 4.8% in the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after purchasing an additional 2,040,664 shares during the period. Invesco Ltd. lifted its position in 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 purchasing an additional 1,963,963 shares during the period. Finally, California Public Employees Retirement System lifted its position in Coca-Cola by 16.4% in the fourth quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after purchasing an additional 1,949,500 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 trading on Friday. The company’s stock had a trading volume of 10,994,262 shares, compared to its average volume of 12,842,353. The firm has a market cap of $266.17 billion, a P/E ratio of 24.90, a PEG ratio of 3.53 and a beta of 0.59. The company has a 50 day moving average price of $60.12 and a 200-day moving average price of $58.85. 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 Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.69.

Coca-Cola (NYSE:KO) last announced 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 return on equity of 42.50% and a net margin of 23.42%. The company had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, 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 business 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. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio is currently 78.23%.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related 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 approximately $13,594,097.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock worth $22,795,742 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KO shares. Citigroup lifted their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays lifted their price objective on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. cut their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Two investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.22.

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.