Argyle Capital Management LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Argyle Capital Management LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 53,749 shares of the company’s stock after acquiring an additional 511 shares during the quarter. Coca-Cola comprises approximately 1.3% of Argyle Capital Management LLC’s holdings, making the stock its 25th biggest position. Argyle Capital Management LLC’s holdings in Coca-Cola were worth $3,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola during the 3rd quarter valued at $18,383,000. Balentine LLC increased its position in shares of Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the period. Rice Partnership LLC lifted its holdings in shares of Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after buying an additional 6,793 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its position in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after acquiring an additional 59,503 shares during the period. Finally, Fiduciary Alliance LLC grew its stake in Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after acquiring an additional 8,499 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.2 %

Shares of Coca-Cola stock opened at $70.93 on Friday. 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 52-week low of $57.93 and a 52-week high of $73.53. The company’s 50 day moving average price is $64.36 and its 200-day moving average price is $66.50. The stock has a market capitalization of $305.06 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.61.

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, 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%. Equities research analysts forecast 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. Shareholders 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 of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. Coca-Cola’s dividend payout ratio is presently 82.59%.

Wall Street Analyst Weigh In

Several research analysts have commented on KO shares. Evercore ISI raised their price target 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. UBS Group upped their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. TD Cowen upgraded 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. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $73.82.

Insiders Place Their Bets

In related news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,646 shares of company stock worth $16,515,469. 0.97% of the stock is currently owned by company insiders.

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.