Marble Harbor Investment Counsel LLC Grows Stock Holdings in The Coca-Cola Company (NYSE:KO)

Marble Harbor Investment Counsel LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 0.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 176,462 shares of the company’s stock after buying an additional 680 shares during the period. Coca-Cola makes up 1.2% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 24th largest holding. Marble Harbor Investment Counsel LLC’s holdings in Coca-Cola were worth $10,987,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Hara Capital LLC bought a new position in shares of Coca-Cola during the third quarter valued at approximately $35,000. Mainstream Capital Management LLC bought a new position in Coca-Cola in the 4th quarter valued at $31,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola in the 3rd quarter valued at $43,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the 4th quarter valued at $37,000. Finally, MilWealth Group LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $40,000. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at Coca-Cola

In other news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 232,646 shares of company stock worth $16,515,469 in the last ninety days. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 1.5 %

Coca-Cola stock opened at $71.52 on Friday. The business has a fifty day moving average price of $65.36 and a 200-day moving average price of $66.60. The stock has a market capitalization of $307.60 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. 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. Coca-Cola’s payout ratio is presently 82.59%.

Wall Street Analyst Weigh In

A number of brokerages have commented on KO. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Piper Sandler increased their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Morgan Stanley increased their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

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.