Buffington Mohr McNeal Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Buffington Mohr McNeal trimmed its stake in The Coca-Cola Company (NYSE:KO) by 2.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,397 shares of the company’s stock after selling 455 shares during the period. Buffington Mohr McNeal’s holdings in Coca-Cola were worth $1,025,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of KO. Morgan Stanley grew its position in Coca-Cola by 2.5% during the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after purchasing an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Coca-Cola by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after purchasing an additional 2,464,618 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in Coca-Cola by 103,297.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock worth $3,672,479,000 after purchasing an additional 57,678,466 shares during the last quarter. Norges Bank purchased a new position in Coca-Cola during the 4th quarter worth $2,937,315,000. Finally, Northern Trust Corp grew its position in Coca-Cola by 4.8% during the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after purchasing an additional 2,040,664 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of NYSE KO traded down $0.05 during midday trading on Tuesday, hitting $58.09. The company had a trading volume of 4,377,879 shares, compared to its average volume of 13,719,578. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.99. The business has a 50-day simple moving average of $60.01 and a two-hundred day simple moving average of $58.51. The firm has a market capitalization of $250.44 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 3.31 and a beta of 0.59.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same quarter last year, the business earned $0.45 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders 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 represents a $1.94 dividend on an annualized basis and a yield of 3.34%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is presently 78.23%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Barclays raised their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup raised their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $67.18.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,407 shares of company stock worth $22,795,742. Insiders own 0.97% of the company’s stock.

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.