Pettyjohn Wood & White Inc. Reduces Position in The Coca-Cola Company (NYSE:KO)

Pettyjohn Wood & White Inc. reduced its stake in The Coca-Cola Company (NYSE:KOFree Report) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,406 shares of the company’s stock after selling 300 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Coca-Cola were worth $1,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Enterprise Bank & Trust Co lifted its holdings in shares of Coca-Cola by 3.4% during the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after purchasing an additional 167 shares during the last quarter. Goelzer Investment Management Inc. lifted its stake in Coca-Cola by 1.8% during the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after buying an additional 169 shares in the last quarter. Elk River Wealth Management LLC boosted its holdings in shares of Coca-Cola by 1.6% in the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after buying an additional 170 shares during the period. KRS Capital Management LLC increased its position in shares of Coca-Cola by 3.8% in the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after acquiring an additional 170 shares in the last quarter. Finally, Wayfinding Financial LLC raised its holdings in shares of Coca-Cola by 1.8% during the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after acquiring an additional 175 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KO shares. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. UBS Group increased their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Argus increased their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Barclays increased their target price on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI increased their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $68.55.

View Our Latest Stock Report on KO

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. Insiders have sold 142,774 shares of company stock valued at $8,952,720 over the last three months. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Up 0.1 %

Shares of Coca-Cola stock traded up $0.08 during trading on Thursday, hitting $62.96. 9,663,065 shares of the stock traded hands, compared to its average volume of 13,137,045. The stock has a market cap of $271.23 billion, a P/E ratio of 25.18, a PEG ratio of 3.59 and a beta of 0.59. The company has a fifty day moving average price of $61.79 and a two-hundred day moving average price of $60.42. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.36. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04.

Coca-Cola (NYSE:KOGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share. Equities research analysts predict that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

About Coca-Cola

(Free Report)

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.

See Also

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

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