The Coca-Cola Company (NYSE:KO) Shares Purchased by Stewart & Patten Co. LLC

Stewart & Patten Co. LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.0% in the 1st quarter, HoldingsChannel reports. The firm owned 386,776 shares of the company’s stock after buying an additional 3,659 shares during the quarter. Coca-Cola makes up 3.5% of Stewart & Patten Co. LLC’s portfolio, making the stock its 11th largest position. Stewart & Patten Co. LLC’s holdings in Coca-Cola were worth $23,663,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. ZRC Wealth Management LLC grew its stake in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the period. Tidemark LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at $27,000. Criterion Capital Advisors LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at $31,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders sold a total of 223,665 shares of company stock valued at $13,995,465 in the last quarter. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Barclays boosted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI boosted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, UBS Group boosted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

Coca-Cola Stock Performance

Shares of NYSE:KO traded down $0.37 during trading on Monday, reaching $63.28. 10,016,643 shares of the company’s stock traded hands, compared to its average volume of 13,101,016. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.36. The company has a 50 day moving average of $62.72 and a 200-day moving average of $60.78. The stock has a market capitalization of $272.61 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts expect that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.