Shell Asset Management Co. Sells 5,310 Shares of The Coca-Cola Company (NYSE:KO)

Shell Asset Management Co. lessened its holdings in The Coca-Cola Company (NYSE:KO) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,801 shares of the company’s stock after selling 5,310 shares during the quarter. Shell Asset Management Co.’s holdings in Coca-Cola were worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Peachtree Investment Partners LLC increased its holdings in Coca-Cola by 1.4% in the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after purchasing an additional 157 shares in the last quarter. Fort Sheridan Advisors LLC increased its stake in shares of Coca-Cola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after acquiring an additional 161 shares in the last quarter. Excalibur Management Corp increased its stake in shares of Coca-Cola by 0.6% in the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after acquiring an additional 161 shares in the last quarter. Wells Trecaso Financial Group LLC lifted its position in shares of Coca-Cola by 4.8% during the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock valued at $225,000 after acquiring an additional 164 shares during the period. Finally, Tradition Wealth Management LLC raised its holdings in shares of Coca-Cola by 3.0% during the fourth quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock valued at $357,000 after purchasing an additional 167 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This represents a 12.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 462,407 shares of company stock valued at $32,990,056. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 3.4%

Shares of KO opened at $71.50 on Friday. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market capitalization of $307.76 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The stock has a fifty day simple moving average of $70.86 and a two-hundred day simple moving average of $66.72. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 45.37% and a net margin of 22.59%. Coca-Cola’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. As a group, equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler increased their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Finally, Morgan Stanley raised their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $75.59.

About Coca-Cola

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.