SlateStone Wealth LLC Boosts Holdings in The Coca-Cola Company (NYSE:KO)

SlateStone Wealth LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 22.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,901 shares of the company’s stock after buying an additional 20,578 shares during the period. SlateStone Wealth LLC’s holdings in Coca-Cola were worth $6,905,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. GWN Securities Inc. acquired a new stake in Coca-Cola during the 4th quarter worth $2,452,000. Van Hulzen Asset Management LLC lifted its stake in shares of Coca-Cola by 0.9% in the 4th quarter. Van Hulzen Asset Management LLC now owns 245,650 shares of the company’s stock worth $15,292,000 after acquiring an additional 2,128 shares during the period. Altus Wealth Group LLC lifted its stake in shares of Coca-Cola by 14.2% in the 4th quarter. Altus Wealth Group LLC now owns 3,302 shares of the company’s stock worth $206,000 after acquiring an additional 411 shares during the period. Glenview Trust co lifted its stake in shares of Coca-Cola by 0.4% in the 4th quarter. Glenview Trust co now owns 457,023 shares of the company’s stock worth $28,454,000 after acquiring an additional 1,704 shares during the period. Finally, Harbour Investments Inc. lifted its stake in shares of Coca-Cola by 8.4% in the 4th quarter. Harbour Investments Inc. now owns 43,807 shares of the company’s stock worth $2,727,000 after acquiring an additional 3,388 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other news, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 over the last three months. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Barclays raised their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Stock Down 0.7 %

KO stock opened at $69.16 on Friday. The firm’s 50-day simple moving average is $66.18 and its 200 day simple moving average is $66.58. The stock has a market cap of $297.47 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. 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 Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

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

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.95%. Coca-Cola’s dividend payout ratio is currently 82.59%.

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.