Bridges Investment Management Inc. Reduces Position in The Coca-Cola Co (NYSE:KO)

Bridges Investment Management Inc. cut its position in shares of The Coca-Cola Co (NYSE:KO) by 31.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,128 shares of the company’s stock after selling 21,413 shares during the period. Bridges Investment Management Inc.’s holdings in The Coca-Cola were worth $2,553,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in KO. SignalPoint Asset Management LLC boosted its holdings in The Coca-Cola by 2.8% during the fourth quarter. SignalPoint Asset Management LLC now owns 6,443 shares of the company’s stock worth $357,000 after buying an additional 174 shares in the last quarter. Weaver Consulting Group raised its position in The Coca-Cola by 4.1% during the fourth quarter. Weaver Consulting Group now owns 4,816 shares of the company’s stock worth $262,000 after acquiring an additional 188 shares during the period. Tiemann Investment Advisors LLC raised its position in The Coca-Cola by 2.0% during the third quarter. Tiemann Investment Advisors LLC now owns 9,487 shares of the company’s stock worth $516,000 after acquiring an additional 189 shares during the period. Financial Advisory Service Inc. raised its position in The Coca-Cola by 1.0% during the fourth quarter. Financial Advisory Service Inc. now owns 19,770 shares of the company’s stock worth $1,094,000 after acquiring an additional 189 shares during the period. Finally, Versant Capital Management Inc raised its position in The Coca-Cola by 3.7% during the fourth quarter. Versant Capital Management Inc now owns 5,400 shares of the company’s stock worth $298,000 after acquiring an additional 195 shares during the period. 68.67% of the stock is owned by institutional investors.

The Coca-Cola stock opened at $41.61 on Thursday. The Coca-Cola Co has a 12-month low of $36.27 and a 12-month high of $60.13. The stock has a market cap of $169.25 billion, a P/E ratio of 20.10, a PEG ratio of 2.99 and a beta of 0.46. The company has a 50-day moving average price of $53.92 and a 200 day moving average price of $54.38. The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The Coca-Cola had a net margin of 24.38% and a return on equity of 44.39%. The firm had revenue of $9.10 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period last year, the business earned $0.43 earnings per share. The Coca-Cola’s revenue was up 28.2% compared to the same quarter last year. As a group, analysts forecast that The Coca-Cola Co will post 2.14 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.40. The Coca-Cola’s dividend payout ratio (DPR) is 77.73%.

A number of research firms have weighed in on KO. UBS Group upped their price objective on shares of The Coca-Cola from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. SunTrust Banks reiterated an “outperform” rating and issued a $65.00 target price on shares of The Coca-Cola in a research report on Friday, January 31st. They noted that the move was a valuation call. Bank of America increased their target price on shares of The Coca-Cola from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Morgan Stanley cut shares of The Coca-Cola from an “overweight” rating to an “equal weight” rating and set a $52.00 target price for the company. in a research report on Wednesday, March 18th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $53.00 target price (down from $64.00) on shares of The Coca-Cola in a research report on Friday, March 20th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The Coca-Cola currently has a consensus rating of “Buy” and a consensus target price of $57.50.

In other The Coca-Cola news, CEO James Quincey sold 66,673 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $59.08, for a total transaction of $3,939,040.84. Following the completion of the transaction, the chief executive officer now owns 467,407 shares of the company’s stock, valued at $27,614,405.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Nancy Quan sold 10,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $46.00, for a total transaction of $460,000.00. Following the transaction, the senior vice president now directly owns 175,049 shares of the company’s stock, valued at approximately $8,052,254. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,027 shares of company stock valued at $9,620,065. 1.01% of the stock is currently owned by insiders.

The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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