Bryn Mawr Capital Management LLC Sells 17,638 Shares of The Coca-Cola Company (NYSE:KO)

Bryn Mawr Capital Management LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,706 shares of the company’s stock after selling 17,638 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Coca-Cola were worth $6,877,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. ZRC Wealth Management LLC boosted its stake in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Coca-Cola during the fourth quarter valued at $30,000. Financial Connections Group Inc. bought a new stake in Coca-Cola in the 4th quarter worth about $38,000. Avion Wealth increased its holdings in Coca-Cola by 64.8% in 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, Fortitude Family Office LLC purchased a new position in Coca-Cola in the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Citigroup lifted their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.22.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the sale, the executive vice president now directly owns 143,383 shares in the company, valued at approximately $8,602,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock worth $22,795,742 over the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $61.74 on Friday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.69. The firm has a market capitalization of $266.17 billion, a price-to-earnings ratio of 24.90, 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 firm has a 50 day moving average of $60.12 and a 200 day moving average of $58.82.

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

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is currently 78.23%.

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.