Mach 1 Financial Group LLC Sells 1,882 Shares of The Coca-Cola Company (NYSE:KO)

Mach 1 Financial Group LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,810 shares of the company’s stock after selling 1,882 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Coca-Cola were worth $1,992,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Parthenon LLC grew its holdings in shares of Coca-Cola by 1.0% during the 4th quarter. Parthenon LLC now owns 71,645 shares of the company’s stock valued at $4,222,000 after purchasing an additional 710 shares during the last quarter. Savant Capital LLC grew its holdings in shares of Coca-Cola by 1.6% during the 4th quarter. Savant Capital LLC now owns 527,294 shares of the company’s stock valued at $31,073,000 after purchasing an additional 8,064 shares during the last quarter. Citizens Business Bank bought a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $200,000. Alpha Cubed Investments LLC grew its holdings in shares of Coca-Cola by 22.2% during the 4th quarter. Alpha Cubed Investments LLC now owns 438,024 shares of the company’s stock valued at $25,813,000 after purchasing an additional 79,677 shares during the last quarter. Finally, MONECO Advisors LLC grew its holdings in shares of Coca-Cola by 3.8% during the 4th quarter. MONECO Advisors LLC now owns 18,564 shares of the company’s stock valued at $1,094,000 after purchasing an additional 674 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders sold 323,107 shares of company stock worth $19,657,742 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Down 0.5 %

Shares of NYSE KO traded down $0.28 during midday trading on Tuesday, reaching $61.76. The stock had a trading volume of 19,343,326 shares, compared to its average volume of 14,053,786. The company’s 50 day moving average price is $60.19 and its 200 day moving average price is $59.02. The firm has a market cap of $266.26 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.69.

Coca-Cola (NYSE:KO) last released 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 company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. Coca-Cola’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is currently 78.23%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. Barclays lifted their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Citigroup lifted their target price 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Two investment 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.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $67.22.

About Coca-Cola

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.