Keynote Financial Services LLC Sells 175 Shares of The Coca-Cola Company (NYSE:KO)

Keynote Financial Services LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,773 shares of the company’s stock after selling 175 shares during the period. Keynote Financial Services LLC’s holdings in Coca-Cola were worth $920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hara Capital LLC bought a new stake in Coca-Cola in the third quarter worth $35,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at $37,000. MilWealth Group LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth about $40,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola in the 3rd quarter worth about $43,000. Finally, Sugar Maple Asset Management LLC bought a new position in Coca-Cola in the 4th quarter worth about $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $71.20 on Friday. The firm’s 50 day moving average price is $64.53 and its 200-day moving average price is $66.51. The stock has a market capitalization of $306.22 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. 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 data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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%. Equities research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bruno Pietracci sold 19,058 shares of the business’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 value of $1,344,732.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,646 shares of company stock valued at $16,515,469. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on KO shares. Evercore ISI lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. UBS Group upped their price objective on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

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.