The Coca-Cola Company (NYSE:KO) Shares Sold by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 4.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,167 shares of the company’s stock after selling 202 shares during the period. New Covenant Trust Company N.A.’s holdings in Coca-Cola were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $31,000. Hara Capital LLC acquired a new position in Coca-Cola in the 3rd quarter valued at about $35,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $37,000. MilWealth Group LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock opened at $70.08 on Wednesday. The stock’s 50 day moving average price is $64.87 and its 200 day moving average price is $66.53. The firm has a market capitalization of $301.40 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

Analyst Upgrades and Downgrades

KO has been the subject of several recent analyst reports. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Barclays lifted their price target on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Morgan Stanley lifted their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 232,646 shares of company stock valued at $16,515,469 in the last three months. Corporate insiders own 0.97% of the company’s stock.

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.