Drucker Wealth 3.0 LLC Decreases Holdings in The Coca-Cola Company (NYSE:KO)

Drucker Wealth 3.0 LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 52,922 shares of the company’s stock after selling 543 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Coca-Cola were worth $3,295,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. Norges Bank purchased a new stake in Coca-Cola in the 4th quarter worth about $3,402,151,000. Northern Trust Corp raised its position in Coca-Cola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after purchasing an additional 3,811,756 shares during the period. Franklin Resources Inc. raised its position in Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. Finally, Capital International Investors raised its position in Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. The trade was a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders sold a total of 462,407 shares of company stock worth $32,990,056 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $71.81 on Friday. The firm has a market cap of $309.09 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 3.79 and a beta of 0.47. The company’s 50 day moving average is $71.09 and its 200 day moving average is $66.98. 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 Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Coca-Cola’s revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $0.72 earnings per share. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.84%. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Analysts Set New Price Targets

A number of analysts recently weighed in on KO shares. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. Barclays restated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Royal Bank of Canada upped their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. UBS Group upped their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has a consensus rating of “Buy” and a consensus target price of $75.81.

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.