Mechanics Bank Trust Department Trims Holdings in The Coca-Cola Company (NYSE:KO)

Mechanics Bank Trust Department trimmed its stake in shares of The Coca-Cola Company (NYSE:KOFree Report) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,467 shares of the company’s stock after selling 8,208 shares during the period. Mechanics Bank Trust Department’s holdings in Coca-Cola were worth $4,270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Fairfield Bush & CO. purchased a new stake in shares of Coca-Cola in the first quarter valued at approximately $77,000. Merit Financial Group LLC increased its position in shares of Coca-Cola by 16.7% in the first quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock valued at $758,000 after buying an additional 1,754 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Coca-Cola by 41.4% in the first quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after buying an additional 43,680 shares in the last quarter. Ergoteles LLC increased its position in shares of Coca-Cola by 385.3% in the first quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock valued at $1,180,000 after buying an additional 15,110 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Coca-Cola by 11.9% in the first quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after buying an additional 301,804 shares in the last quarter. 68.96% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

KO opened at $60.23 on Wednesday. The stock’s 50-day moving average price is $60.00 and its 200 day moving average price is $58.24. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market cap of $259.74 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 3.41 and a beta of 0.59.

Coca-Cola (NYSE:KOGet Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The company had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the business earned $0.45 EPS. Coca-Cola’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.485 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.22%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio is presently 78.23%.

Wall Street Analyst Weigh In

Several brokerages recently commented on KO. Citigroup boosted their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. boosted their price target on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Finally, Barclays boosted their price target on Coca-Cola from $60.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Check Out Our Latest Stock Analysis on Coca-Cola

Insider Activity

In related news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 375,407 shares of company stock worth $22,795,742. 1.00% of the stock is currently owned by insiders.

Coca-Cola Company Profile

(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.

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

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