Meridian Investment Counsel Inc. Buys 1,340 Shares of The Coca-Cola Company (NYSE:KO)

Meridian Investment Counsel Inc. lifted its stake in The Coca-Cola Company (NYSE:KO) by 11.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,951 shares of the company’s stock after buying an additional 1,340 shares during the period. Meridian Investment Counsel Inc.’s holdings in Coca-Cola were worth $806,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Fort Sheridan Advisors LLC grew its holdings in shares of 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 in the last quarter. Excalibur Management Corp boosted its stake in Coca-Cola by 0.6% during the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after buying an additional 161 shares in the last quarter. Wells Trecaso Financial Group LLC increased its holdings in Coca-Cola by 4.8% in the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock valued at $225,000 after buying an additional 164 shares during the period. Atlas Brown Inc. raised its stake in shares of Coca-Cola by 0.8% in the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock valued at $1,309,000 after buying an additional 166 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of 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 acquiring an additional 169 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction dated 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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the company’s 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 sold a total of 313,423 shares of company stock worth $22,263,071 in the last quarter. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Down 0.5 %

NYSE:KO opened at $70.36 on Monday. The company has a market cap of $302.80 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock’s fifty day moving average price is $67.77 and its two-hundred day moving average price is $66.38. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. 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. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. Coca-Cola’s payout ratio is currently 82.59%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler raised their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Morgan Stanley upped their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Two research 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.