Westchester Capital Management Inc. Sells 269 Shares of The Coca-Cola Company (NYSE:KO)

Westchester Capital Management Inc. lessened its stake in The Coca-Cola Company (NYSE:KO) by 16.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,346 shares of the company’s stock after selling 269 shares during the period. Westchester Capital Management Inc.’s holdings in Coca-Cola were worth $84,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fort Sheridan Advisors LLC lifted its holdings in shares of Coca-Cola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after acquiring an additional 161 shares during the last quarter. Wells Trecaso Financial Group LLC lifted its holdings in shares of Coca-Cola by 4.8% in the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after acquiring an additional 164 shares during the last quarter. Atlas Brown Inc. lifted its holdings in shares of Coca-Cola by 0.8% in the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock worth $1,309,000 after acquiring an additional 166 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of Coca-Cola by 0.4% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,198 shares of the company’s stock worth $2,440,000 after acquiring an additional 169 shares during the last quarter. Finally, Great Diamond Partners LLC lifted its holdings in shares of Coca-Cola by 1.7% in the 4th quarter. Great Diamond Partners LLC now owns 10,314 shares of the company’s stock worth $642,000 after acquiring an additional 169 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.6 %

Shares of Coca-Cola stock opened at $71.00 on Wednesday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. 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 $305.37 billion, a P/E ratio of 28.74, a PEG ratio of 3.79 and a beta of 0.57. The company’s fifty day moving average is $65.72 and its two-hundred day moving average is $66.58.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (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%. Analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company 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 is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Coca-Cola’s payout ratio is presently 82.59%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KO. Morgan Stanley increased their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Barclays increased their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. UBS Group increased their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Evercore ISI increased their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Insider Activity

In other news, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,146 shares of company stock valued at $20,456,524 over the last quarter. Corporate 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.