Mach 1 Financial Group LLC Trims Holdings in The Coca-Cola Company (NYSE:KO)

Mach 1 Financial Group LLC trimmed its position in The Coca-Cola Company (NYSE:KO) by 5.3% in the 4th quarter, HoldingsChannel reports. 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. ZRC Wealth Management LLC raised its position in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in Coca-Cola during the fourth quarter valued at approximately $30,000. Financial Connections Group Inc. purchased a new position in Coca-Cola during the fourth quarter valued at approximately $38,000. Avion Wealth increased its position in shares of Coca-Cola by 64.8% in the fourth 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, Fortitude Family Office LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $53,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO traded down $0.28 during 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 business has a fifty day moving average price of $60.19 and a 200-day moving average price of $59.02. The stock has a market cap of $266.26 billion, a PE ratio of 24.90, a PEG 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 1-year low of $51.55 and a 1-year 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, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm’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 company posted $0.68 earnings per share. On average, equities analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.485 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a 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 78.23%.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 323,107 shares of company stock valued at $19,657,742. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KO shares. Citigroup boosted their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Finally, Barclays boosted their price objective on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Two research 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.22.

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.