The Coca-Cola Company (NYSE:KO) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA cut its position in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,074 shares of the company’s stock after selling 624 shares during the quarter. Jacobs & Co. CA’s holdings in Coca-Cola were worth $7,959,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in KO. Fairfield Bush & CO. acquired a new stake in shares of Coca-Cola in the first quarter worth $77,000. Merit Financial Group LLC increased its holdings in Coca-Cola by 16.7% during the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after purchasing an additional 1,754 shares in the last quarter. NewEdge Advisors LLC grew its position in Coca-Cola by 41.4% in the first quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after purchasing an additional 43,680 shares in the last quarter. Ergoteles LLC lifted its position in shares of Coca-Cola by 385.3% in the first quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock valued at $1,180,000 after buying an additional 15,110 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Coca-Cola by 11.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock worth $176,115,000 after purchasing an additional 301,804 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KO. JPMorgan Chase & Co. increased their target price on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Barclays boosted their price target on Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Finally, Citigroup increased their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Coca-Cola Price Performance

Coca-Cola stock opened at $61.03 on Thursday. The firm has a market capitalization of $263.11 billion, a PE ratio of 24.61, a P/E/G ratio of 3.43 and a beta of 0.59. The firm’s 50-day simple moving average is $60.04 and its 200 day simple moving average is $58.30. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.99. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter last year, the company earned $0.45 earnings per share. Coca-Cola’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is 78.23%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock worth $22,795,742 over the last ninety days. Company insiders own 0.97% of the company’s stock.

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.