Eagle Ridge Investment Management Decreases Position in The Coca-Cola Company (NYSE:KO)

Eagle Ridge Investment Management decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,308 shares of the company’s stock after selling 402 shares during the period. Eagle Ridge Investment Management’s holdings in Coca-Cola were worth $961,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Greatmark Investment Partners Inc. increased its position in Coca-Cola by 2.2% during the fourth quarter. Greatmark Investment Partners Inc. now owns 167,297 shares of the company’s stock worth $9,859,000 after buying an additional 3,675 shares during the period. Investment House LLC increased its position in Coca-Cola by 3.6% during the fourth quarter. Investment House LLC now owns 24,334 shares of the company’s stock worth $1,434,000 after buying an additional 849 shares during the period. Birchcreek Wealth Management LLC increased its position in Coca-Cola by 12.6% during the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after buying an additional 507 shares during the period. Avaii Wealth Management LLC increased its position in Coca-Cola by 4.0% during the fourth quarter. Avaii Wealth Management LLC now owns 6,145 shares of the company’s stock worth $362,000 after buying an additional 239 shares during the period. Finally, Choreo LLC increased its position in Coca-Cola by 8.6% during the fourth quarter. Choreo LLC now owns 87,753 shares of the company’s stock worth $5,171,000 after buying an additional 6,930 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.19 on Monday, hitting $61.93. The company had a trading volume of 7,644,434 shares, compared to its average volume of 13,915,716. 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 Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.69. The business has a 50 day moving average of $60.12 and a 200 day moving average of $58.89. The company has a market cap of $266.99 billion, a PE ratio of 24.99, a PEG ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its 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. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors 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 is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.13%. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Buying and Selling

In related news, CEO James Quincey sold 247,188 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 143,383 shares in the company, valued at $8,602,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 375,407 shares of company stock worth $22,795,742. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent research reports. Barclays boosted their target price on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Citigroup boosted their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. dropped their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.22.

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.