Main Street Group LTD Buys 288 Shares of The Coca-Cola Company (NYSE:KO)

Main Street Group LTD grew its holdings in The Coca-Cola Company (NYSE:KO) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,745 shares of the company’s stock after acquiring an additional 288 shares during the period. Main Street Group LTD’s holdings in Coca-Cola were worth $171,000 as of its most recent SEC filing.

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

Coca-Cola Trading Down 0.9%

NYSE KO opened at $68.92 on Wednesday. The stock has a market cap of $296.65 billion, a P/E ratio of 27.90, a P/E/G ratio of 3.79 and a beta of 0.47. 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 company has a fifty day simple moving average of $70.91 and a two-hundred day simple moving average of $66.67.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.96%. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Analysts Set New Price Targets

Several research analysts have commented on KO shares. Royal Bank of Canada increased their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Evercore ISI lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $75.59.

Insider Buying and Selling

In related news, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were 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 in the company, valued at $24,324,191.46. The trade was a 29.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 462,407 shares of company stock worth $32,990,056. 0.97% of the stock is owned by company 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.