The Coca-Cola Company (NYSE:KO) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc lessened its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 22.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,500 shares of the company's stock after selling 4,000 shares during the quarter. Morse Asset Management Inc's holdings in Coca-Cola were worth $841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Coca-Cola by 5.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,448 shares of the company's stock worth $26,737,000 after purchasing an additional 20,287 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new position in shares of Coca-Cola in the 4th quarter worth approximately $19,061,000. LRI Investments LLC boosted its stake in shares of Coca-Cola by 4.2% during the 4th quarter. LRI Investments LLC now owns 54,207 shares of the company's stock worth $3,375,000 after acquiring an additional 2,203 shares during the last quarter. Laraway Financial Advisors Inc grew its holdings in Coca-Cola by 3.5% during the fourth quarter. Laraway Financial Advisors Inc now owns 9,001 shares of the company's stock valued at $560,000 after purchasing an additional 302 shares during the period. Finally, Lighthouse Investment Partners LLC grew its stake in shares of Coca-Cola by 552.8% during the 4th quarter. Lighthouse Investment Partners LLC now owns 475,425 shares of the company's stock valued at $29,600,000 after acquiring an additional 402,595 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Up 3.4%

KO stock traded up $2.34 during trading on Thursday, reaching $71.50. 19,798,106 shares of the company traded hands, compared to its average volume of 15,595,251. The business has a 50 day simple moving average of $70.86 and a 200 day simple moving average of $66.68. 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 12 month low of $60.62 and a 12 month high of $74.38. The company has a market capitalization of $307.76 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company's quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. UBS Group raised their price target on Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and boosted their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Royal Bank of Canada upped their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola has an average rating of "Buy" and a consensus target price of $75.59.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $24,324,191.46. This represents a 29.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer now directly owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 462,407 shares of company stock worth $32,990,056 over the last 90 days. 0.97% of the stock is currently owned by company insiders.

About Coca-Cola

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.