The Coca-Cola Company (NYSE:KO) Stake Lowered by Blume Capital Management Inc.

Blume Capital Management Inc. cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,837 shares of the company’s stock after selling 163 shares during the quarter. Blume Capital Management Inc.’s holdings in Coca-Cola were worth $1,048,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Mainstream Capital Management LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $31,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola in the 3rd quarter worth approximately $43,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $37,000. MilWealth Group LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $40,000. Finally, Hara Capital LLC grew its holdings in Coca-Cola by 43.7% in the 4th quarter. Hara Capital LLC now owns 691 shares of the company’s stock worth $43,000 after buying an additional 210 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the company’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $69.59 on Friday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm has a 50 day moving average of $66.03 and a 200-day moving average of $66.63. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $299.29 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, sell-side analysts anticipate 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 will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. Coca-Cola’s payout ratio is presently 82.59%.

Analyst Ratings Changes

KO has been the subject of a number of recent analyst reports. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

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.