Hutchinson Capital Management CA Has $652,000 Position in The Coca-Cola Company (NYSE:KO)

Hutchinson Capital Management CA reduced its stake in The Coca-Cola Company (NYSE:KO) by 4.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,477 shares of the company’s stock after selling 450 shares during the quarter. Hutchinson Capital Management CA’s holdings in Coca-Cola were worth $652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fort Sheridan Advisors LLC lifted its holdings in Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after purchasing an additional 161 shares during the last quarter. Wells Trecaso Financial Group LLC lifted its holdings in Coca-Cola by 4.8% during the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after purchasing an additional 164 shares during the last quarter. Atlas Brown Inc. lifted its holdings in Coca-Cola by 0.8% during the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock worth $1,309,000 after purchasing an additional 166 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in Coca-Cola by 0.4% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,198 shares of the company’s stock worth $2,440,000 after purchasing an additional 169 shares during the last quarter. Finally, Great Diamond Partners LLC raised its holdings in Coca-Cola by 1.7% in the 4th quarter. Great Diamond Partners LLC now owns 10,314 shares of the company’s stock valued at $642,000 after acquiring an additional 169 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KO has been the subject of several analyst reports. Evercore ISI lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now directly owns 246,909 shares in the company, valued at $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 in the last 90 days. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.7 %

Shares of KO stock opened at $69.16 on Friday. The firm has a market capitalization of $297.47 billion, a P/E ratio of 28.00, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The stock’s fifty day simple moving average is $66.18 and its 200 day simple moving average is $66.58.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.95%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 82.59%.

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.