MTM Investment Management LLC Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

MTM Investment Management LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,670 shares of the company’s stock after selling 3,987 shares during the quarter. Coca-Cola accounts for approximately 1.5% of MTM Investment Management LLC’s holdings, making the stock its 13th largest position. MTM Investment Management LLC’s holdings in Coca-Cola were worth $3,607,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its stake in Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after acquiring an additional 153 shares in the last quarter. Joule Financial LLC lifted its holdings in shares of Coca-Cola by 3.6% in the 2nd quarter. Joule Financial LLC now owns 4,867 shares of the company’s stock worth $312,000 after acquiring an additional 167 shares during the last quarter. Community Bank & Trust Waco Texas lifted its holdings in shares of Coca-Cola by 0.6% in the 1st quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock worth $1,851,000 after acquiring an additional 168 shares during the last quarter. Goelzer Investment Management Inc. lifted its holdings in shares of Coca-Cola by 1.8% in the 4th quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock worth $571,000 after acquiring an additional 169 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its holdings in shares of Coca-Cola by 1.4% in the 1st quarter. Premier Path Wealth Partners LLC now owns 12,009 shares of the company’s stock worth $729,000 after acquiring an additional 170 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on KO shares. Barclays increased their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Bank of America increased their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. BNP Paribas initiated coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective on the stock. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Coca-Cola Price Performance

NYSE:KO traded up $1.07 during mid-day trading on Monday, hitting $70.86. 12,910,136 shares of the company’s stock traded hands, compared to its average volume of 12,989,852. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The firm’s 50 day simple moving average is $65.91 and its 200 day simple moving average is $62.80. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $70.92. The company has a market cap of $305.26 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period last year, the firm posted $0.78 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.74%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The disclosure for this sale can be found here. Insiders sold a total of 1,014,029 shares of company stock worth $581,682,074 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

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.