Burns Matteson Capital Management LLC Sells 4,658 Shares of The Coca-Cola Company (NYSE:KO)

Burns Matteson Capital Management LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 51.8% during the 2nd quarter, Holdings Channel reports. The fund owned 4,327 shares of the company’s stock after selling 4,658 shares during the period. Burns Matteson Capital Management LLC’s holdings in Coca-Cola were worth $275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Coca-Cola during the 4th quarter valued at about $2,808,056,000. Price T Rowe Associates Inc. MD increased its stake in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Coca-Cola by 11,138.6% in the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after purchasing an additional 4,933,527 shares in the last quarter. Pathstone Holdings LLC purchased a new position in shares of Coca-Cola in the 4th quarter valued at about $193,342,000. Finally, Putnam Investments LLC increased its stake in shares of Coca-Cola by 32.8% in the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after purchasing an additional 2,973,234 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KO shares. Argus lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. TD Cowen lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. UBS Group lifted their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Coca-Cola Trading Down 0.1 %

NYSE KO traded down $0.05 on Tuesday, reaching $68.05. The stock had a trading volume of 12,967,125 shares, compared to its average volume of 13,084,187. The firm has a market capitalization of $293.16 billion, a price-to-earnings ratio of 27.22, a P/E/G ratio of 3.80 and a beta of 0.59. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $69.67. The stock has a fifty day moving average price of $64.12 and a two-hundred day moving average price of $61.83.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 earnings per share. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold a total of 879,212 shares of company stock valued at $571,892,119 over the last quarter. 0.97% of the stock is owned by company insiders.

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.