Intact Investment Management Inc. Sells 33,300 Shares of The Coca-Cola Company (NYSE:KO)

Intact Investment Management Inc. reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 13.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 222,500 shares of the company’s stock after selling 33,300 shares during the quarter. Intact Investment Management Inc.’s holdings in Coca-Cola were worth $13,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Insigneo Advisory Services LLC boosted its position in Coca-Cola by 12.2% during the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after acquiring an additional 4,527 shares during the last quarter. HF Advisory Group LLC boosted its position in Coca-Cola by 7.6% during the 3rd quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock worth $379,000 after acquiring an additional 476 shares during the last quarter. Wahed Invest LLC raised its stake in shares of Coca-Cola by 10.3% during the 3rd quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after purchasing an additional 5,707 shares in the last quarter. Cohen Lawrence B raised its stake in shares of Coca-Cola by 2.8% during the 3rd quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock worth $2,288,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Coca-Cola by 3.2% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock worth $2,738,000 after purchasing an additional 1,455 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

KO stock remained flat at $61.74 during trading hours on Friday. The company’s stock had a trading volume of 10,994,262 shares, compared to its average volume of 12,842,353. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a market cap of $266.17 billion, a price-to-earnings ratio of 24.90, a P/E/G ratio of 3.53 and a beta of 0.59. The firm has a 50 day moving average price of $60.12 and a 200-day moving average price of $58.82. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.69.

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

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio is 78.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KO shares. Barclays upped their price objective on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Citigroup increased their price target on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. dropped their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $67.22.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 57,368 shares of the firm’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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nancy Quan sold 57,368 shares of the firm’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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now directly owns 143,383 shares in the company, valued at $8,602,980. The disclosure for this sale can be found here. In the last three months, insiders have sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is owned by corporate 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.