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

Oak Asset Management LLC trimmed its stake in The Coca-Cola Company (NYSE:KOFree Report) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 SEC filing.

A number of other large investors have also bought and sold shares of the stock. State Street Corp grew its holdings in shares of Coca-Cola by 1.0% during the second quarter. State Street Corp now owns 171,246,926 shares of the company’s stock valued at $10,390,407,000 after buying an additional 1,628,772 shares during the last quarter. Morgan Stanley lifted its position in shares of 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 purchasing an additional 1,950,146 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Coca-Cola by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock valued at $3,501,789,000 after purchasing an additional 2,464,618 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Coca-Cola by 103,297.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after purchasing an additional 57,678,466 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Coca-Cola during the fourth quarter valued at about $2,937,315,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of Coca-Cola stock remained flat at $60.15 during trading on Wednesday. 1,754,724 shares of the stock were exchanged, compared to its average volume of 13,935,873. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.99. The company has a market cap of $259.32 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 3.44 and a beta of 0.59. The firm has a 50-day simple moving average of $60.13 and a 200-day simple moving average of $58.39. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KOGet Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (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 earned $0.45 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KO shares. JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Citigroup raised their price target 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. Finally, Barclays raised their price target on shares of Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $67.00.

View Our Latest Stock Report on KO

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 on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly 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 can be accessed through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly 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 can be accessed through the SEC website. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock worth $22,795,742 in the last three months. 0.97% of the stock is owned by insiders.

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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