Bedel Financial Consulting Inc. Lowers Stake in The Coca-Cola Company (NYSE:KO)

Bedel Financial Consulting Inc. trimmed its position in The Coca-Cola Company (NYSE:KO) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,678 shares of the company’s stock after selling 367 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in Coca-Cola were worth $1,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at $35,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $37,000. MilWealth Group LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $40,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at about $43,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Coca-Cola during the 4th quarter worth approximately $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James Quincey sold 145,435 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola 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. Insiders have sold 232,646 shares of company stock valued at $16,515,469 over the last three months. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 1.5 %

Coca-Cola stock opened at $72.29 on Tuesday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm’s 50-day moving average is $64.73 and its 200-day moving average is $66.52. 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 company has a market cap of $310.92 billion, a P/E ratio of 29.27, a PEG ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid 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 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

Analyst Ratings Changes

KO has been the topic of a number of analyst reports. Evercore ISI lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Two investment 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.