GQG Partners LLC Sells 30,795,824 Shares of The Coca-Cola Company (NYSE:KO)

GQG Partners LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 81.5% during the fourth quarter, HoldingsChannel reports. The firm owned 6,997,188 shares of the company’s stock after selling 30,795,824 shares during the period. GQG Partners LLC’s holdings in Coca-Cola were worth $435,645,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Crowley Wealth Management Inc. bought a new stake in Coca-Cola during the fourth quarter valued at $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola during the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the fourth quarter worth approximately $37,000. MilWealth Group LLC bought a new stake in Coca-Cola in the fourth quarter worth approximately $40,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 sold a total of 313,423 shares of company stock valued at $22,263,071 in the last ninety days. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Up 0.4 %

KO opened at $68.97 on Tuesday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The firm has a market capitalization of $296.81 billion, a P/E ratio of 27.92, a PEG ratio of 3.79 and a beta of 0.57. The company’s 50-day moving average is $67.15 and its 200 day moving average is $66.42. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last posted its earnings results 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 net margin of 22.59% and a return on equity of 45.37%. Research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is 82.59%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. 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 research note on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Piper Sandler increased their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock 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 report on Wednesday, February 12th. Finally, UBS Group increased their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.