Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. Cuts Stake in The Coca-Cola Company (NYSE:KO)

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lowered its stake in The Coca-Cola Company (NYSE:KO) by 37.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,319 shares of the company’s stock after selling 4,450 shares during the quarter. Coca-Cola accounts for 2.5% of Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s portfolio, making the stock its 17th biggest position. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s holdings in Coca-Cola were worth $431,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Enterprise Bank & Trust Co boosted its stake in Coca-Cola by 3.4% during the 4th 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 last quarter. Elk River Wealth Management LLC grew its stake in shares of Coca-Cola by 1.6% in the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after acquiring an additional 170 shares during the period. KRS Capital Management LLC lifted its position in Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares during the period. Wayfinding Financial LLC boosted its stake in shares of Coca-Cola by 1.8% in the 4th quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock worth $573,000 after buying an additional 175 shares during the last quarter. Finally, John G Ullman & Associates Inc. increased its position in shares of Coca-Cola by 2.2% during the 4th quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock valued at $476,000 after purchasing an additional 175 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 0.8 %

NYSE:KO traded up $0.51 during midday trading on Wednesday, reaching $62.28. 7,189,197 shares of the stock traded hands, compared to its average volume of 13,961,646. 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 stock has a market capitalization of $268.50 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59. The business has a 50-day moving average of $60.19 and a two-hundred day moving average of $59.02. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.25.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. 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. Investors of record on Friday, March 15th were given a dividend of $0.485 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.11%. Coca-Cola’s dividend payout ratio (DPR) is presently 78.23%.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of analyst reports. Barclays increased their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Evercore ISI increased their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup raised their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. UBS Group lifted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.18.

Insiders Place Their Bets

In other news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders sold 323,107 shares of company stock valued at $19,657,742 in the last three months. 0.97% of the stock is currently owned by insiders.

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.