Reynders McVeigh Capital Management LLC Has $611,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

Reynders McVeigh Capital Management LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,821 shares of the company’s stock after selling 200 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Coca-Cola were worth $611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola during the fourth quarter worth $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola during the fourth quarter valued at $31,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter worth about $37,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Coca-Cola in the 4th quarter worth about $38,000. Finally, Hoey Investments Inc. lifted its stake in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KO. Morgan Stanley lifted their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Piper Sandler lifted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Stock Up 0.8 %

Coca-Cola stock opened at $71.35 on Monday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.95. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm’s 50-day simple moving average is $69.60 and its 200 day simple moving average is $66.32. The stock has a market cap of $307.04 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

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.