Mutual Advisors LLC decreased its stake in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 44,245 shares of the company’s stock after selling 1,062 shares during the quarter. Mutual Advisors LLC’s holdings in Coca-Cola were worth $2,620,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Curi Wealth Management LLC bought a new position in Coca-Cola during the fourth quarter valued at approximately $25,000. Shore Point Advisors LLC bought a new position in Coca-Cola during the fourth quarter valued at approximately $28,000. Horan Securities Inc. bought a new position in Coca-Cola during the fourth quarter valued at approximately $32,000. Leverty Financial Group LLC purchased a new stake in Coca-Cola during the fourth quarter valued at approximately $35,000. Finally, Masso Torrence Wealth Management Inc. purchased a new stake in Coca-Cola during the fourth quarter valued at approximately $46,000. Institutional investors own 68.51% of the company’s stock.
A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola from $62.00 to $64.00 and gave the company a “hold” rating in a report on Tuesday, April 26th. Cowen increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 26th. Evercore ISI increased their price objective on shares of Coca-Cola from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 15th. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, February 11th. Finally, The Goldman Sachs Group set a $58.00 price objective on shares of Coca-Cola in a research note on Thursday, February 10th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $67.29.
Coca-Cola (NYSE:KO – Get Rating) last released its earnings results on Monday, April 25th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.06. The firm had revenue of $10.50 billion during the quarter, compared to analyst estimates of $9.83 billion. Coca-Cola had a net margin of 25.69% and a return on equity of 41.84%. The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS. Research analysts forecast that The Coca-Cola Company will post 2.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, June 14th. Coca-Cola’s dividend payout ratio is presently 73.95%.
In other news, SVP Monica Howard Douglas sold 14,122 shares of Coca-Cola stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $58.85, for a total value of $831,079.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Beatriz R. Perez sold 143,924 shares of Coca-Cola stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $64.78, for a total transaction of $9,323,396.72. Following the completion of the transaction, the senior vice president now directly owns 121,178 shares in the company, valued at approximately $7,849,910.84. The disclosure for this sale can be found here. Insiders sold a total of 618,845 shares of company stock worth $39,601,992 in the last ninety days. 0.98% of the stock is currently owned by insiders.
Coca-Cola Profile (Get Rating)
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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