Steigerwald Gordon & Koch Inc. Reduces Position in The Coca-Cola Company (NYSE:KO)

Steigerwald Gordon & Koch Inc. trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 220,560 shares of the company’s stock after selling 1,639 shares during the quarter. Coca-Cola comprises approximately 1.8% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 27th biggest position. Steigerwald Gordon & Koch Inc.’s holdings in Coca-Cola were worth $15,797,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Fermata Advisors LLC bought a new stake in shares of Coca-Cola in the first quarter worth approximately $459,000. HF Advisory Group LLC grew its position in Coca-Cola by 9.0% in the 1st quarter. HF Advisory Group LLC now owns 9,090 shares of the company’s stock worth $651,000 after purchasing an additional 747 shares during the period. Warren Street Wealth Advisors LLC raised its stake in Coca-Cola by 13.9% during the 1st quarter. Warren Street Wealth Advisors LLC now owns 5,518 shares of the company’s stock valued at $395,000 after buying an additional 674 shares during the last quarter. Lifestyle Asset Management Inc. purchased a new stake in Coca-Cola during the 1st quarter valued at $230,000. Finally, Clare Market Investments LLC lifted its holdings in shares of Coca-Cola by 1.5% during the 1st quarter. Clare Market Investments LLC now owns 28,713 shares of the company’s stock valued at $2,056,000 after buying an additional 425 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.3%

NYSE KO opened at $71.39 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock’s 50 day moving average is $71.41 and its 200 day moving average is $67.45. The stock has a market cap of $307.28 billion, a PE ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Finally, Royal Bank of Canada increased their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $75.81.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 496,164 shares of company stock worth $35,671,587 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.