SlateStone Wealth LLC Purchases 5,356 Shares of The Coca-Cola Company (NYSE:KO)

SlateStone Wealth LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 21.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,591 shares of the company’s stock after purchasing an additional 5,356 shares during the period. SlateStone Wealth LLC’s holdings in Coca-Cola were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Enterprise Bank & Trust Co raised its holdings in shares of Coca-Cola by 3.4% in the 4th 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 in the last quarter. Elk River Wealth Management LLC increased 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 valued at $639,000 after purchasing an additional 170 shares during the last quarter. KRS Capital Management LLC increased its position in shares of Coca-Cola by 3.8% during 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 increased its position in shares of Coca-Cola by 1.8% during the 4th 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 last quarter. Finally, John G Ullman & Associates Inc. increased its position in shares of Coca-Cola by 2.2% during the 4th quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock valued at $476,000 after purchasing an additional 175 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Down 0.7 %

Shares of KO stock traded down $0.41 during trading hours on Wednesday, reaching $60.23. The company’s stock had a trading volume of 1,293,529 shares, compared to its average volume of 13,740,188. The stock has a market capitalization of $259.66 billion, a P/E ratio of 24.33, a P/E/G ratio of 3.46 and a beta of 0.59. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.69. The firm’s fifty day simple moving average is $59.98 and its 200 day simple moving average is $58.72. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data 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. The firm had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. Equities research analysts expect that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.485 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.22%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is presently 78.23%.

Analyst Ratings Changes

Several brokerages have recently commented on KO. Citigroup increased their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. reduced their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Finally, Barclays raised their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.09.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares in the company, valued at $8,602,980. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 over the last 90 days. Company insiders own 0.97% of the company’s stock.

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.