Anchor Capital Advisors LLC Sells 2,924 Shares of The Coca-Cola Company (NYSE:KO)

Anchor Capital Advisors LLC decreased its stake in shares of The Coca-Cola Company (NYSE:KO) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 36,145 shares of the company’s stock after selling 2,924 shares during the period. Anchor Capital Advisors LLC’s holdings in Coca-Cola were worth $2,130,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. RMR Wealth Builders increased its holdings in shares of Coca-Cola by 42.1% in the 3rd quarter. RMR Wealth Builders now owns 28,208 shares of the company’s stock worth $1,579,000 after buying an additional 8,360 shares during the last quarter. Garrison Asset Management LLC boosted its holdings in shares of Coca-Cola by 39.6% in the 3rd quarter. Garrison Asset Management LLC now owns 7,262 shares of the company’s stock worth $407,000 after purchasing an additional 2,059 shares in the last quarter. Sweet Financial Partners LLC increased its position in shares of Coca-Cola by 10.2% during the 3rd quarter. Sweet Financial Partners LLC now owns 28,918 shares of the company’s stock valued at $1,619,000 after purchasing an additional 2,676 shares during the last quarter. Toews Corp ADV bought a new stake in Coca-Cola in the 3rd quarter worth approximately $784,000. Finally, Accurate Wealth Management LLC boosted its stake in Coca-Cola by 356.2% in the third quarter. Accurate Wealth Management LLC now owns 53,238 shares of the company’s stock worth $2,878,000 after buying an additional 41,569 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the company’s 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bruno Pietracci sold 18,551 shares of the company’s 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. In the last quarter, insiders sold 323,107 shares of company stock valued at $19,657,742. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO traded down $0.06 during mid-day trading on Tuesday, reaching $61.98. The stock had a trading volume of 4,308,417 shares, compared to its average volume of 13,867,907. 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 12 month low of $51.55 and a 12 month high of $64.69. The business has a fifty day moving average of $60.17 and a 200 day moving average of $58.96. The firm has a market cap of $267.21 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. Equities analysts predict that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.13%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is currently 78.23%.

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.