Calamos Advisors LLC Sells 144,585 Shares of The Coca-Cola Company (NYSE:KO)

Calamos Advisors LLC lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 11.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,127,992 shares of the company’s stock after selling 144,585 shares during the period. Calamos Advisors LLC’s holdings in Coca-Cola were worth $66,473,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Freedom Wealth Alliance LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth about $25,000. Hibernia Wealth Partners LLC acquired a new stake in Coca-Cola during the third quarter worth approximately $25,000. ZRC Wealth Management LLC lifted its position in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the last quarter. Fortis Capital Advisors LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at about $30,000. Finally, KB Financial Partners LLC bought a new position in Coca-Cola during the first quarter worth about $31,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.7 %

NYSE:KO traded up $0.40 during trading hours on Thursday, reaching $58.91. The company had a trading volume of 11,109,007 shares, compared to its average volume of 13,781,049. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.99. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The firm has a market cap of $253.97 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 3.29 and a beta of 0.59. The business’s 50-day simple moving average is $59.94 and its two-hundred day simple moving average is $58.52.

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

Coca-Cola Increases Dividend

The business 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. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.29%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Activity at Coca-Cola

In other 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 sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. In the last three months, insiders 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

KO has been the subject of a number of recent research reports. Barclays boosted 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. JPMorgan Chase & Co. increased their price target on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Finally, Citigroup lifted their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.18.

Coca-Cola Company 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.