Cable Hill Partners LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Cable Hill Partners LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 13.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,249 shares of the company’s stock after selling 1,145 shares during the quarter. Cable Hill Partners LLC’s holdings in Coca-Cola were worth $451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the 3rd quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola during the 4th quarter worth about $37,000. MilWealth Group LLC purchased a new stake in shares of Coca-Cola during the 4th quarter worth about $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the 3rd quarter worth about $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. UBS Group boosted their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Morgan Stanley upped their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.82.

Coca-Cola Stock Performance

Shares of KO opened at $70.80 on Thursday. The business’s 50 day moving average is $64.19 and its two-hundred day moving average is $66.47. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The firm has a market cap of $304.53 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 3.79 and a beta of 0.61. 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 posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio is currently 82.59%.

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.