CocaCola Company (The) (NYSE:KO) Shares Acquired by Mechanics Financial Corp

Mechanics Financial Corp boosted its position in CocaCola Company (The) (NYSE:KO) by 22.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 980 shares of the company’s stock after purchasing an additional 180 shares during the period. Mechanics Financial Corp’s holdings in CocaCola were worth $70,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after acquiring an additional 4,591 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock worth $1,189,000 after purchasing an additional 2,072 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of CocaCola by 46.2% during the 4th quarter. Proficio Capital Partners LLC now owns 10,843 shares of the company’s stock worth $675,000 after purchasing an additional 3,426 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new position in shares of CocaCola during the 4th quarter worth approximately $718,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president owned 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer owned 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is currently owned by corporate insiders.

CocaCola Stock Down 0.2%

Shares of KO opened at $69.33 on Wednesday. The firm has a market cap of $298.43 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.64 and a beta of 0.45. The company’s fifty day moving average is $70.80 and its two-hundred day moving average is $68.95. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 EPS. Analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.94%. CocaCola’s payout ratio is 81.60%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on KO shares. Morgan Stanley reissued an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada lifted their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $76.71.

About CocaCola

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.