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

New England Asset Management Inc. reduced its position in The Coca-Cola Company (NYSE:KO - Free Report) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,651 shares of the company's stock after selling 10,050 shares during the period. New England Asset Management Inc.'s holdings in Coca-Cola were worth $5,519,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Voleon Capital Management LP purchased a new position in Coca-Cola during the 4th quarter valued at $2,513,000. Rice Partnership LLC grew its holdings in Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock worth $6,397,000 after acquiring an additional 6,793 shares in the last quarter. Fiduciary Alliance LLC increased its position in Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock valued at $1,132,000 after purchasing an additional 8,499 shares during the period. Clark & Stuart Inc bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $1,582,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Coca-Cola by 62.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock valued at $1,663,000 after purchasing an additional 10,240 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 3.4%

NYSE:KO traded up $2.34 on Thursday, reaching $71.50. 19,798,106 shares of the company's stock were exchanged, compared to its average volume of 15,595,251. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm 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. The business has a fifty day moving average of $70.86 and a 200-day moving average of $66.68.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company's revenue was down .7% compared to the same quarter last year. As a group, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company 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 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is 81.60%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. UBS Group lifted their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Evercore ISI upped their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, Piper Sandler raised their price target 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. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $75.59.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction 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 completion of the transaction, the insider now directly owns 246,909 shares of the company's stock, valued at approximately $17,520,662.64. The trade was a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 462,407 shares of company stock worth $32,990,056 in the last 90 days. Company 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.