Stewart & Patten Co. LLC Buys 5,816 Shares of The Coca-Cola Company (NYSE:KO)

Stewart & Patten Co. LLC boosted its stake in The Coca-Cola Company (NYSE:KOFree Report) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 383,117 shares of the company’s stock after purchasing an additional 5,816 shares during the period. Coca-Cola makes up approximately 3.5% of Stewart & Patten Co. LLC’s holdings, making the stock its 12th largest position. Stewart & Patten Co. LLC’s holdings in Coca-Cola were worth $22,577,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KO. Castleview Partners LLC lifted its position in Coca-Cola by 4.4% during the first quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock valued at $246,000 after purchasing an additional 167 shares during the period. Enterprise Bank & Trust Co lifted its position in 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 period. Elk River Wealth Management LLC lifted its position in Coca-Cola by 1.6% during the fourth 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 period. Somerville Kurt F lifted its position in Coca-Cola by 0.8% during the first quarter. Somerville Kurt F now owns 21,377 shares of the company’s stock valued at $1,325,000 after purchasing an additional 172 shares during the period. Finally, VitalStone Financial LLC lifted its position in Coca-Cola by 46.5% during the second quarter. VitalStone Financial LLC now owns 545 shares of the company’s stock valued at $34,000 after purchasing an additional 173 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 375,407 shares of company stock valued at $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.2 %

KO opened at $61.18 on Friday. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.99. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $60.08 and a 200 day moving average price of $58.34. The company has a market cap of $263.76 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59.

Coca-Cola (NYSE:KOGet Free Report) last released 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 net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio is currently 78.23%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KO shares. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Barclays boosted their target price on shares of Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, Citigroup upped their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Get Our Latest Stock Analysis on KO

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.

Featured Stories

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KOFree Report).

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

Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.