Kimelman & Baird LLC Has $509,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Kimelman & Baird LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 15.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,170 shares of the company’s stock after selling 1,500 shares during the period. Kimelman & Baird LLC’s holdings in Coca-Cola were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the 4th quarter worth about $31,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola in the 3rd quarter worth about $43,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the 4th quarter worth about $37,000. MilWealth Group LLC acquired a new position in Coca-Cola in the 4th quarter worth about $40,000. Finally, Hara Capital LLC increased its position in Coca-Cola by 43.7% in the 4th quarter. Hara Capital LLC now owns 691 shares of the company’s stock worth $43,000 after purchasing an additional 210 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KO shares. UBS Group upped their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Transactions at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction on 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. In the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO stock opened at $69.16 on Monday. The stock has a 50 day moving average of $66.18 and a two-hundred day moving average of $66.54. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company 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.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS 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, equities analysts expect 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 given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

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.