Fort Pitt Capital Group LLC Decreases Stake in The Coca-Cola Co (NYSE:KO)

Fort Pitt Capital Group LLC decreased its position in The Coca-Cola Co (NYSE:KO) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,840 shares of the company’s stock after selling 840 shares during the period. Fort Pitt Capital Group LLC’s holdings in The Coca-Cola were worth $1,264,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of KO. Price Wealth LLC bought a new position in The Coca-Cola in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new position in The Coca-Cola in the 4th quarter worth approximately $31,000. Quantum Capital Management bought a new position in The Coca-Cola in the 3rd quarter worth approximately $34,000. Simon Quick Advisors LLC boosted its holdings in The Coca-Cola by 128.9% in the 4th quarter. Simon Quick Advisors LLC now owns 673 shares of the company’s stock worth $37,000 after buying an additional 379 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its holdings in The Coca-Cola by 2.0% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 660,667 shares of the company’s stock worth $37,000 after buying an additional 12,923 shares during the period. Hedge funds and other institutional investors own 68.67% of the company’s stock.

Several research analysts recently commented on KO shares. Bank of America raised their price objective on shares of The Coca-Cola from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Credit Suisse Group upgraded shares of The Coca-Cola from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $54.00 to $64.00 in a research note on Thursday, January 9th. UBS Group increased their target price on shares of The Coca-Cola from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. HSBC upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Tuesday. Finally, Citigroup increased their target price on shares of The Coca-Cola from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The Coca-Cola has a consensus rating of “Buy” and a consensus target price of $57.50.

NYSE:KO traded up $2.54 during trading hours on Wednesday, reaching $41.99. The company’s stock had a trading volume of 22,594,154 shares, compared to its average volume of 29,414,940. The firm has a market capitalization of $161.14 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.81 and a beta of 0.46. The firm has a 50-day simple moving average of $54.30 and a 200-day simple moving average of $54.46. The Coca-Cola Co has a 1 year low of $36.27 and a 1 year high of $60.13. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.76.

The Coca-Cola (NYSE:KO) last issued its earnings results on Thursday, January 30th. The company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. The company had revenue of $9.10 billion for the quarter, compared to analysts’ expectations of $8.88 billion. The Coca-Cola had a net margin of 24.38% and a return on equity of 44.39%. The firm’s revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. Equities analysts anticipate that The Coca-Cola Co will post 2.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.40. The Coca-Cola’s dividend payout ratio (DPR) is 77.73%.

In other The Coca-Cola news, COO Brian John Smith sold 25,000 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $56.00, for a total value of $1,400,000.00. Following the sale, the chief operating officer now owns 139,302 shares of the company’s stock, valued at approximately $7,800,912. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 66,673 shares of The Coca-Cola stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $59.08, for a total transaction of $3,939,040.84. Following the sale, the chief executive officer now directly owns 467,407 shares in the company, valued at approximately $27,614,405.56. The disclosure for this sale can be found here. In the last three months, insiders sold 167,027 shares of company stock worth $9,620,065. Insiders own 1.01% of the company’s stock.

The Coca-Cola Profile

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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