Pflug Koory LLC Decreases Stake in The Coca-Cola Co (NYSE:KO)

Pflug Koory LLC lessened its holdings in shares of The Coca-Cola Co (NYSE:KO) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,714 shares of the company’s stock after selling 600 shares during the quarter. Pflug Koory LLC’s holdings in The Coca-Cola were worth $206,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KO. Corient Capital Partners LLC increased its stake in The Coca-Cola by 10.0% during the third quarter. Corient Capital Partners LLC now owns 131,791 shares of the company’s stock worth $7,175,000 after purchasing an additional 11,966 shares during the period. Bfsg LLC increased its position in shares of The Coca-Cola by 4.2% during the third quarter. Bfsg LLC now owns 8,153 shares of the company’s stock worth $444,000 after acquiring an additional 328 shares during the period. River & Mercantile Asset Management LLP raised its stake in shares of The Coca-Cola by 7.2% in the second quarter. River & Mercantile Asset Management LLP now owns 213,007 shares of the company’s stock valued at $10,843,000 after acquiring an additional 14,330 shares in the last quarter. Whittier Trust Co. raised its stake in shares of The Coca-Cola by 1.5% in the third quarter. Whittier Trust Co. now owns 253,185 shares of the company’s stock valued at $13,781,000 after acquiring an additional 3,680 shares in the last quarter. Finally, Boston Advisors LLC raised its stake in shares of The Coca-Cola by 28.4% in the third quarter. Boston Advisors LLC now owns 144,782 shares of the company’s stock valued at $7,882,000 after acquiring an additional 31,997 shares in the last quarter. 67.54% of the stock is owned by institutional investors and hedge funds.

In other news, VP Larry M. Mark sold 90,289 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $54.93, for a total value of $4,959,574.77. Following the completion of the transaction, the vice president now owns 93,474 shares in the company, valued at approximately $5,134,526.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Lisa Chang bought 500 shares of the stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $54.55 per share, with a total value of $27,275.00. Following the acquisition, the senior vice president now owns 5,948 shares in the company, valued at approximately $324,463.40. The disclosure for this purchase can be found here. In the last three months, insiders have sold 132,678 shares of company stock worth $7,264,570. 1.33% of the stock is owned by corporate insiders.

Several research analysts recently commented on KO shares. Deutsche Bank boosted their target price on The Coca-Cola from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Credit Suisse Group raised The Coca-Cola from a “neutral” rating to an “outperform” rating and increased their price target for the company from $54.00 to $64.00 in a research report on Thursday, January 9th. UBS Group upgraded The Coca-Cola from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $63.00 in a research note on Wednesday, October 23rd. Morgan Stanley reissued a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research report on Tuesday, October 29th. Finally, Guggenheim set a $59.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $57.05.

Shares of KO traded down $0.13 during mid-day trading on Tuesday, reaching $56.00. The company’s stock had a trading volume of 16,345,265 shares, compared to its average volume of 12,942,681. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.79. The Coca-Cola Co has a 12-month low of $44.42 and a 12-month high of $56.29. The stock has a market cap of $239.50 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 3.78 and a beta of 0.42. The company’s 50 day moving average is $54.54 and its 200 day moving average is $53.70.

The Coca-Cola (NYSE:KO) last posted its earnings results on Friday, October 18th. The company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.42 billion. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. As a group, sell-side analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.86%. The Coca-Cola’s payout ratio is currently 76.92%.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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