Kennon Green & Company LLC Sells 6,745 Shares of The Coca-Cola Company (NYSE:KO)

Kennon Green & Company LLC cut its position in The Coca-Cola Company (NYSE:KO) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,460 shares of the company’s stock after selling 6,745 shares during the period. Coca-Cola comprises about 4.4% of Kennon Green & Company LLC’s portfolio, making the stock its 7th largest position. Kennon Green & Company LLC’s holdings in Coca-Cola were worth $4,329,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Coca-Cola by 4.1% during 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 last quarter. Northern Trust Corp lifted its holdings in shares of Coca-Cola by 4.8% during the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after acquiring an additional 2,040,664 shares during the period. Invesco Ltd. lifted its stake in Coca-Cola by 8.2% in the 3rd quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock valued at $1,446,822,000 after purchasing an additional 1,963,963 shares during the last quarter. Morgan Stanley lifted its stake in Coca-Cola by 2.5% in the 3rd 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 during the last quarter. Finally, California Public Employees Retirement System increased its position in Coca-Cola by 16.4% in the 4th quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock valued at $813,523,000 after acquiring an additional 1,949,500 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Up 0.1 %

Shares of NYSE KO traded up $0.09 during mid-day trading on Monday, hitting $61.83. The stock had a trading volume of 7,898,889 shares, compared to its average volume of 13,918,808. 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 1 year low of $51.55 and a 1 year high of $64.69. The business has a 50 day moving average price of $60.12 and a two-hundred day moving average price of $58.89. The firm has a market cap of $266.56 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59.

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

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.14%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Barclays raised their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Finally, Citigroup upped their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.22.

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.