Eagle Ridge Investment Management Reduces Stake in The Coca-Cola Company (NYSE:KO)

Eagle Ridge Investment Management lowered its stake in The Coca-Cola Company (NYSE:KO) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,308 shares of the company’s stock after selling 402 shares during the period. Eagle Ridge Investment Management’s holdings in Coca-Cola were worth $961,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Charles Schwab Investment Management Inc. grew its position in Coca-Cola by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after acquiring an additional 2,464,618 shares in the last quarter. Northern Trust Corp grew its position in Coca-Cola by 4.8% in the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after acquiring an additional 2,040,664 shares in the last quarter. Invesco Ltd. boosted its position in shares of Coca-Cola by 8.2% during the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock valued at $1,446,822,000 after buying an additional 1,963,963 shares during the period. Morgan Stanley boosted its position in shares of Coca-Cola by 2.5% during the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after buying an additional 1,950,146 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Coca-Cola by 16.4% during the fourth quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock valued at $813,523,000 after buying an additional 1,949,500 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now directly 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 SEC, which is available through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were 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 filing with the SEC, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction 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. Over the last three months, insiders have sold 375,407 shares of company stock valued at $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.3 %

NYSE:KO traded up $0.19 during trading hours on Monday, reaching $61.93. The company’s stock had a trading volume of 7,644,434 shares, compared to its average volume of 13,915,716. The company has a market capitalization of $266.99 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.69. 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 stock has a 50 day moving average price of $60.12 and a two-hundred day moving average price of $58.89.

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

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. Coca-Cola’s dividend payout ratio is presently 78.23%.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent analyst reports. Citigroup boosted their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Barclays boosted their target price on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. dropped their target price on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.22.

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.