The Coca-Cola Company (NYSE:KO) Holdings Cut by Argyle Capital Management Inc.

Argyle Capital Management Inc. lowered its holdings in The Coca-Cola Company (NYSE:KO) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,623 shares of the company’s stock after selling 12,750 shares during the period. Coca-Cola comprises about 1.6% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Argyle Capital Management Inc.’s holdings in Coca-Cola were worth $3,749,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. ZRC Wealth Management LLC increased its stake in shares of Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Criterion Capital Advisors LLC acquired a new position in Coca-Cola in the 4th quarter worth approximately $30,000. Financial Connections Group Inc. acquired a new position in Coca-Cola in the 4th quarter worth approximately $38,000. Avion Wealth boosted its stake in Coca-Cola by 64.8% in the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after purchasing an additional 322 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in Coca-Cola in the 4th quarter worth approximately $53,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KO shares. JPMorgan Chase & Co. decreased their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Citigroup lifted their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays lifted their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.22.

Coca-Cola Price Performance

NYSE:KO remained flat at $61.74 on Friday. 10,994,262 shares of the company’s stock were exchanged, compared to its average volume of 12,842,353. The firm has a market cap of $266.17 billion, a P/E ratio of 24.90, a P/E/G ratio of 3.53 and a beta of 0.59. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The stock’s fifty day simple moving average is $60.12 and its two-hundred day simple moving average is $58.89.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the business earned $0.45 earnings per share. Coca-Cola’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.485 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio is currently 78.23%.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares in the company, valued at $8,602,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola 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.