Bryn Mawr Capital Management LLC Decreases Holdings in The Coca-Cola Company (NYSE:KO)

Bryn Mawr Capital Management LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 13.1% in the 4th quarter, Holdings Channel reports. The firm owned 116,706 shares of the company’s stock after selling 17,638 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Coca-Cola were worth $6,877,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Enterprise Bank & Trust Co increased its position in shares of Coca-Cola by 3.4% during the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after acquiring an additional 167 shares during the last quarter. Elk River Wealth Management LLC boosted its position in shares of Coca-Cola by 1.6% during the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after purchasing an additional 170 shares during the period. KRS Capital Management LLC increased its holdings in Coca-Cola by 3.8% in the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares during the last quarter. Wayfinding Financial LLC raised its position in Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after purchasing an additional 175 shares during the period. Finally, John G Ullman & Associates Inc. lifted its stake in Coca-Cola by 2.2% during the fourth quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock worth $476,000 after purchasing an additional 175 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of NYSE KO opened at $61.74 on Friday. The stock’s 50-day moving average is $60.12 and its two-hundred day moving average is $58.82. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The company has a market cap of $266.17 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.69.

Coca-Cola (NYSE:KO) last released 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. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.485 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s payout ratio is 78.23%.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. Barclays lifted 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, April 12th. JPMorgan Chase & Co. dropped their target price on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Finally, Citigroup increased their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.22.

Insider Buying and Selling

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 worth $22,795,742. Corporate insiders own 0.97% of the company’s stock.

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.