Dudley Capital Management LLC Sells 971 Shares of The Coca-Cola Company (NYSE:KO)

Dudley Capital Management LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,081 shares of the company’s stock after selling 971 shares during the quarter. Coca-Cola makes up 1.3% of Dudley Capital Management LLC’s portfolio, making the stock its 23rd largest holding. Dudley Capital Management LLC’s holdings in Coca-Cola were worth $2,495,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KO. Crowley Wealth Management Inc. acquired a new position in Coca-Cola in the fourth quarter valued at about $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $37,000. MilWealth Group LLC bought a new stake in Coca-Cola during the 4th quarter worth approximately $40,000. Finally, Hara Capital LLC increased its holdings in Coca-Cola by 43.7% during the 4th quarter. Hara Capital LLC now owns 691 shares of the company’s stock valued at $43,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Barclays increased their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Stock Up 0.4 %

Shares of NYSE KO opened at $68.97 on Tuesday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market cap of $296.81 billion, a P/E ratio of 27.92, a P/E/G ratio of 3.79 and a beta of 0.57. The firm has a 50 day moving average price of $67.15 and a 200 day moving average price of $66.42.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.96%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Activity

In related news, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 in 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.