SeaCrest Wealth Management LLC Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

SeaCrest Wealth Management LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,757 shares of the company’s stock after selling 3,665 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Coca-Cola were worth $2,014,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in KO. State Street Corp raised its position in Coca-Cola by 1.0% during the second quarter. State Street Corp now owns 171,246,926 shares of the company’s stock worth $10,390,407,000 after acquiring an additional 1,628,772 shares during the period. Morgan Stanley increased its stake in shares of Coca-Cola by 2.5% during 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Coca-Cola by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after purchasing an additional 2,464,618 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Coca-Cola by 103,297.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after buying an additional 57,678,466 shares in the last quarter. Finally, Norges Bank acquired a new stake in Coca-Cola in the 4th quarter worth about $2,937,315,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Up 0.2 %

KO stock traded up $0.13 during trading on Thursday, reaching $61.16. 13,680,433 shares of the stock were exchanged, compared to its average volume of 14,194,525. 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 firm has a market capitalization of $263.67 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 3.43 and a beta of 0.59. The business has a 50 day moving average price of $60.06 and a 200-day moving average price of $58.32. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.99.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 EPS. On average, research 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 disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be issued a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, March 14th. Coca-Cola’s payout ratio is 78.23%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $26,968,753.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 57,368 shares of the business’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 in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders have sold 375,407 shares of company stock valued at $22,795,742 over the last 90 days. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

KO has been the topic of several research reports. Barclays raised their target price on Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Citigroup raised 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.00.

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.