The Coca-Cola Company (NYSE:KO) Shares Sold by AlphaQuest LLC

by · The Cerbat Gem

AlphaQuest LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 92.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,646 shares of the company’s stock after selling 56,153 shares during the quarter. AlphaQuest LLC’s holdings in Coca-Cola were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Howard Capital Management Group LLC raised its stake in shares of Coca-Cola by 0.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after acquiring an additional 2,069 shares during the period. United Bank increased its holdings in Coca-Cola by 65.4% in the 3rd quarter. United Bank now owns 80,888 shares of the company’s stock valued at $5,813,000 after purchasing an additional 31,979 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Coca-Cola by 8.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 94,735 shares of the company’s stock worth $6,808,000 after purchasing an additional 7,540 shares in the last quarter. Oak Harbor Wealth Partners LLC boosted its position in shares of Coca-Cola by 1.3% during the third quarter. Oak Harbor Wealth Partners LLC now owns 51,521 shares of the company’s stock worth $3,702,000 after buying an additional 652 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, insider Nikolaos Koumettis sold 55,500 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the completion of the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,533,008.09. This represents a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,423 shares of company stock worth $22,263,071. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Barclays increased their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

View Our Latest Stock Report on Coca-Cola

Coca-Cola Price Performance

KO stock opened at $69.16 on Friday. The stock has a market cap of $297.47 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The business has a 50 day moving average price of $66.18 and a 200 day moving average price of $66.61.

Coca-Cola (NYSE:KO – Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.95%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

About Coca-Cola

(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.

Featured Articles

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO – Free Report).