Johnson Investment Counsel Inc. Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Johnson Investment Counsel Inc. increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,458,691 shares of the company’s stock after acquiring an additional 20,031 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Coca-Cola were worth $90,818,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in KO. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the fourth quarter worth about $37,000. MilWealth Group LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $40,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $43,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,646 shares of company stock worth $16,515,469. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Trading Up 1.5 %

NYSE:KO opened at $71.52 on Monday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The firm has a market cap of $307.60 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. 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 stock has a fifty day moving average price of $65.36 and a 200 day moving average price of $66.56.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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 return on equity of 45.37% and a net margin of 22.59%. Sell-side analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. Coca-Cola’s dividend payout ratio is currently 82.59%.

Analyst Ratings Changes

KO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Barclays upped their price target on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.24.

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.