Cutter & CO Brokerage Inc. Sells 833 Shares of The Coca-Cola Company (NYSE:KO)

Cutter & CO Brokerage Inc. trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,110 shares of the company’s stock after selling 833 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Coca-Cola were worth $537,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. ZRC Wealth Management LLC grew its holdings in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola in the 4th quarter worth $30,000. Financial Connections Group Inc. purchased a new position in Coca-Cola during the 4th quarter worth $38,000. Avion Wealth increased its position in Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after buying an additional 322 shares in the last quarter. Finally, Clear Investment Research LLC raised its stake in Coca-Cola by 36.1% in the third quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after buying an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup raised their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays increased their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.09.

Coca-Cola Stock Performance

Shares of NYSE:KO traded up $0.09 during trading on Tuesday, hitting $60.64. 13,687,837 shares of the stock traded hands, compared to its average volume of 13,898,879. The company has a fifty day moving average price of $59.95 and a two-hundred day moving average price of $58.67. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.99. The company has a market cap of $261.43 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 3.44 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business 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 posted $0.45 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.20%. The ex-dividend date was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is presently 78.23%.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola 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 legal filing with the SEC, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction 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 $8,602,980. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 375,407 shares of company stock worth $22,795,742. Company insiders own 0.97% of the company’s stock.

Coca-Cola Profile

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.