Jackson Hole Capital Partners LLC Sells 1,110 Shares of The Coca-Cola Company (NYSE:KO)

Jackson Hole Capital Partners LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 78,641 shares of the company’s stock after selling 1,110 shares during the period. Coca-Cola accounts for 1.0% of Jackson Hole Capital Partners LLC’s holdings, making the stock its 25th biggest position. Jackson Hole Capital Partners LLC’s holdings in Coca-Cola were worth $4,896,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in shares of Coca-Cola in the fourth quarter worth approximately $31,376,000. United Community Bank grew its stake in shares of Coca-Cola by 3.4% in the fourth quarter. United Community Bank now owns 47,270 shares of the company’s stock worth $2,943,000 after acquiring an additional 1,570 shares during the period. Personal CFO Solutions LLC grew its stake in shares of Coca-Cola by 2.4% in the fourth quarter. Personal CFO Solutions LLC now owns 20,121 shares of the company’s stock worth $1,253,000 after acquiring an additional 477 shares during the period. Amundi grew its position in Coca-Cola by 3.1% during the fourth quarter. Amundi now owns 18,313,696 shares of the company’s stock valued at $1,130,138,000 after buying an additional 550,582 shares during the period. Finally, Dorsey & Whitney Trust CO LLC grew its position in Coca-Cola by 9.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 32,783 shares of the company’s stock valued at $2,041,000 after buying an additional 2,792 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

KO stock opened at $71.52 on Friday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company’s fifty day moving average price is $65.36 and its 200-day moving average price is $66.58. 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 company has a market capitalization of $307.60 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released 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%. On average, equities analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is 82.59%.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,646 shares of company stock valued at $16,515,469. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KO has been the subject of several recent research reports. Piper Sandler boosted their target price 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. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Morgan Stanley boosted their target price 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. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Barclays boosted their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Two equities research 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Company 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.