Intact Investment Management Inc. Sells 33,300 Shares of The Coca-Cola Company (NYSE:KO)

Intact Investment Management Inc. lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 222,500 shares of the company’s stock after selling 33,300 shares during the quarter. Intact Investment Management Inc.’s holdings in Coca-Cola were worth $13,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley lifted its stake in Coca-Cola by 2.5% in the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after purchasing an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Coca-Cola by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after acquiring an additional 2,464,618 shares during the period. Northern Trust Corp increased its position in shares of Coca-Cola by 4.8% during the third 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 shares of Coca-Cola by 8.2% during the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after buying an additional 1,963,963 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Coca-Cola by 16.4% during the fourth quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after buying an additional 1,949,500 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

KO remained flat at $61.74 on Friday. 10,994,262 shares of the company’s stock were exchanged, compared to its average volume of 12,842,353. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.69. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $60.12 and a 200-day moving average price of $58.82. The company has a market cap of $266.17 billion, a P/E ratio of 24.90, a P/E/G ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $10.80 billion during 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 company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on KO. 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 research note on Friday, April 19th. Citigroup boosted their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays boosted their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $67.22.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

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.