Seven Mile Advisory Has $245,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Seven Mile Advisory cut its position in shares of The Coca-Cola Company (NYSE:KO) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,939 shares of the company’s stock after selling 1,311 shares during the period. Seven Mile Advisory’s holdings in Coca-Cola were worth $245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola during the 4th quarter worth about $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola in the 4th quarter valued at about $37,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Coca-Cola during the fourth quarter worth $38,000. Finally, Hoey Investments Inc. raised its stake in shares of Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after buying an additional 181 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Morgan Stanley raised their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Stock Performance

NYSE:KO opened at $70.36 on Monday. 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 Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a 50 day simple moving average of $67.77 and a two-hundred day simple moving average of $66.38. The company has a market capitalization of $302.80 billion, a PE ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57.

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

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. Coca-Cola’s dividend payout ratio is presently 82.59%.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate 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.