Desjardins Global Asset Management Inc. Has $1.61 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Desjardins Global Asset Management Inc. trimmed its stake in The Coca-Cola Company (NYSE:KO) by 11.8% in the fourth quarter, HoldingsChannel reports. The firm owned 27,321 shares of the company’s stock after selling 3,666 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Coca-Cola were worth $1,610,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of KO. Hibernia Wealth Partners LLC acquired a new stake in Coca-Cola in the third quarter worth $25,000. Freedom Wealth Alliance LLC acquired a new stake in Coca-Cola in the fourth quarter worth $25,000. ZRC Wealth Management LLC grew its holdings in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Fortis Capital Advisors LLC acquired a new position in shares of Coca-Cola during the fourth quarter valued at about $30,000. Finally, KB Financial Partners LLC acquired a new position in shares of Coca-Cola during the first quarter valued at about $31,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KO. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Citigroup lifted their price objective 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. Finally, Barclays lifted their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.18.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction that occurred on 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 sale, 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction that occurred 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. Over the last 90 days, insiders have sold 375,407 shares of company stock valued at $22,795,742. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $58.06 on Wednesday. The firm has a market cap of $250.31 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 3.30 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.99. The firm’s 50-day simple moving average is $59.97 and its two-hundred day simple moving average is $58.52.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, equities analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.485 dividend. This is a positive change 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 annualized dividend and a yield of 3.34%. Coca-Cola’s payout ratio is currently 78.23%.

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.