Bridges Investment Management Inc. Buys 743 Shares of The Coca-Cola Company (NYSE:KO)

Bridges Investment Management Inc. raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,899 shares of the company’s stock after buying an additional 743 shares during the quarter. Bridges Investment Management Inc.’s holdings in Coca-Cola were worth $3,418,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $1,344,732.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,646 shares of company stock valued at $16,515,469. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on KO shares. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Evercore ISI increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Price Performance

KO opened at $71.20 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $64.53 and its 200 day simple moving average is $66.51. The firm has a market cap of $306.22 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

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 the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. Coca-Cola’s payout ratio is presently 82.59%.

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.