Elgethun Capital Management Has $671,000 Position in The Coca-Cola Company (NYSE:KO)

Elgethun Capital Management lifted its holdings in The Coca-Cola Company (NYSE:KO) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,781 shares of the company’s stock after buying an additional 268 shares during the period. Elgethun Capital Management’s holdings in Coca-Cola were worth $671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola during the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola during the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the fourth quarter valued at approximately $37,000. Murphy & Mullick Capital Management Corp acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $38,000. Finally, Hoey Investments Inc. grew its position in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 4.5 %

Shares of KO stock opened at $69.87 on Monday. The stock has a market cap of $300.67 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 3.79 and a beta of 0.45. The firm has a fifty day moving average of $68.72 and a 200-day moving average of $66.38. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.95. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share 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, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.51 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Buying and Selling at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now directly owns 52,466 shares of the company’s stock, valued at $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the company’s 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 owns 94,676 shares in the company, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Wells Fargo & Company increased 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. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Evercore ISI lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, UBS Group upped their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. 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 company. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $74.24.

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.