Grant GrossMendelsohn LLC Has $629,000 Stake in The Coca-Cola Company (NYSE:KO)

Grant GrossMendelsohn LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,599 shares of the company’s stock after selling 285 shares during the quarter. Grant GrossMendelsohn LLC’s holdings in Coca-Cola were worth $629,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. ACT Advisors LLC. increased its holdings in Coca-Cola by 3.0% during the 4th quarter. ACT Advisors LLC. now owns 13,608 shares of the company’s stock worth $802,000 after purchasing an additional 394 shares in the last quarter. Flputnam Investment Management Co. increased its holdings in Coca-Cola by 1.8% during the 4th quarter. Flputnam Investment Management Co. now owns 112,380 shares of the company’s stock worth $6,623,000 after purchasing an additional 1,994 shares in the last quarter. Keel Point LLC boosted its stake in shares of Coca-Cola by 10.7% in the 4th quarter. Keel Point LLC now owns 17,711 shares of the company’s stock worth $1,044,000 after buying an additional 1,710 shares during the last quarter. Sentry Investment Management LLC boosted its stake in shares of Coca-Cola by 35.6% in the 4th quarter. Sentry Investment Management LLC now owns 30,634 shares of the company’s stock worth $1,805,000 after buying an additional 8,048 shares during the last quarter. Finally, Sippican Capital Advisors boosted its stake in shares of Coca-Cola by 25.9% in the 4th quarter. Sippican Capital Advisors now owns 6,799 shares of the company’s stock worth $401,000 after buying an additional 1,400 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded down $0.14 during trading on Monday, hitting $58.14. The stock had a trading volume of 12,423,288 shares, compared to its average volume of 13,853,175. The firm has a market cap of $250.65 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 3.31 and a beta of 0.59. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.99. The business’s 50-day moving average is $60.05 and its 200 day moving average is $58.49. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. Coca-Cola’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.485 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.34%. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,407 shares of company stock valued at $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Citigroup upped their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays upped their price objective on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $67.18.

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.