Stewart & Patten Co. LLC Raises Holdings in The Coca-Cola Company (NYSE:KO)

Stewart & Patten Co. LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 386,776 shares of the company’s stock after acquiring an additional 3,659 shares during the quarter. Coca-Cola accounts for about 3.5% of Stewart & Patten Co. LLC’s investment portfolio, making the stock its 11th largest holding. Stewart & Patten Co. LLC’s holdings in Coca-Cola were worth $23,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. ZRC Wealth Management LLC raised its position in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Tidemark LLC bought a new position in shares of Coca-Cola in the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC bought a new position in shares of Coca-Cola in the 4th quarter worth approximately $27,000. Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola in the 4th quarter worth approximately $30,000. Finally, Frazier Financial Advisors LLC bought a new position in Coca-Cola during the 4th quarter valued at approximately $31,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of KO stock traded down $0.37 during trading hours on Monday, hitting $63.28. The stock had a trading volume of 10,016,643 shares, compared to its average volume of 13,101,016. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.36. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The stock’s 50-day moving average price is $62.72 and its two-hundred day moving average price is $60.78. The stock has a market capitalization of $272.61 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 3.60 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. Equities analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.07%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent analyst reports. Evercore ISI increased their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. UBS Group raised their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. BNP Paribas assumed coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the sale, the executive vice president now owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. Insiders sold 223,665 shares of company stock worth $13,995,465 over the last 90 days. Company insiders own 0.97% of the company’s stock.

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.