Burns Matteson Capital Management LLC Has $290,000 Position in The Coca-Cola Company (NYSE:KO)

Burns Matteson Capital Management LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,039 shares of the company’s stock after selling 288 shares during the period. Burns Matteson Capital Management LLC’s holdings in Coca-Cola were worth $290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the second quarter worth $26,000. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter worth about $27,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the 1st quarter valued at about $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the 1st quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. increased its holdings in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nancy Quan sold 37,787 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KO shares. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Barclays boosted their price objective on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.33.

Coca-Cola Trading Up 0.5 %

Shares of KO stock traded up $0.32 during trading hours on Friday, reaching $69.57. The company had a trading volume of 8,786,318 shares, compared to its average volume of 13,216,886. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 1-year low of $52.43 and a 1-year high of $73.53. The company has a 50 day moving average of $70.51 and a 200 day moving average of $65.39. The firm has a market cap of $299.70 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. Coca-Cola’s payout ratio is presently 77.60%.

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.