Jennison Associates LLC Trims Stock Holdings in The Coca-Cola Company (NYSE:KO)

Jennison Associates LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,816 shares of the company’s stock after selling 610 shares during the period. Jennison Associates LLC’s holdings in Coca-Cola were worth $2,700,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KO. ZRC Wealth Management LLC raised its position in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Criterion Capital Advisors LLC bought a new stake in Coca-Cola in the fourth quarter valued at $30,000. Financial Connections Group Inc. bought a new stake in Coca-Cola in the fourth quarter valued at $38,000. Avion Wealth boosted its holdings in shares of Coca-Cola by 64.8% during the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after acquiring an additional 322 shares during the period. Finally, Clear Investment Research LLC grew its position in shares of Coca-Cola by 36.1% during the third quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after acquiring an additional 246 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In related news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 143,383 shares in the company, valued at approximately $8,602,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were 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. Over the last ninety days, insiders have sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Coca-Cola Stock Performance

Shares of NYSE KO opened at $61.74 on Friday. The business’s 50-day simple moving average is $60.12 and its 200-day simple moving average is $58.82. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.69. 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.

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

Coca-Cola Increases Dividend

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

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.