Mitchell Mcleod Pugh & Williams Inc. Has $1.67 Million Stake in The Coca-Cola Company (NYSE:KO)

Mitchell Mcleod Pugh & Williams Inc. trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,406 shares of the company’s stock after selling 285 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Coca-Cola were worth $1,674,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ZRC Wealth Management LLC raised its stake in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in Coca-Cola in the fourth quarter valued at approximately $30,000. Financial Connections Group Inc. bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Avion Wealth boosted its holdings in shares of Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after buying an additional 322 shares in the last quarter. Finally, Clear Investment Research LLC boosted its holdings in shares of Coca-Cola by 36.1% during the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after buying an additional 246 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KO shares. JPMorgan Chase & Co. cut their target price on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Barclays raised 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, Citigroup raised 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.22.

Coca-Cola Price Performance

Shares of KO traded up $0.03 during trading hours on Monday, reaching $61.77. 3,218,136 shares of the company’s stock traded hands, compared to its average volume of 13,854,685. The stock has a market cap of $266.30 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.69. The firm’s 50 day simple moving average is $60.12 and its 200-day simple moving average is $58.89.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. During the same period in the previous year, the firm earned $0.45 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts expect that The Coca-Cola Company will post 2.81 EPS for the current 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 paid a $0.485 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is currently 78.23%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 375,407 shares of company stock worth $22,795,742. 0.97% of the stock is owned by insiders.

Coca-Cola Company 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.