Legacy Capital Wealth Partners LLC Sells 921 Shares of The Coca-Cola Company (NYSE:KO)

Legacy Capital Wealth Partners LLC trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,558 shares of the company’s stock after selling 921 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Coca-Cola were worth $976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. ZRC Wealth Management LLC raised its holdings in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in Coca-Cola during the 4th quarter worth about $30,000. Financial Connections Group Inc. bought a new stake in Coca-Cola during the 4th quarter worth about $38,000. Avion Wealth raised its holdings in Coca-Cola by 64.8% during 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 last quarter. Finally, Clear Investment Research LLC grew its position in shares of Coca-Cola by 36.1% during the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after buying an additional 246 shares during the period. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Coca-Cola Price Performance

Shares of KO remained flat at $61.74 on Friday. The company had a trading volume of 10,994,262 shares, compared to its average volume of 12,842,353. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The business has a fifty day moving average of $60.12 and a two-hundred day moving average of $58.85. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.69. The stock has a market capitalization of $266.17 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. Coca-Cola’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 EPS. As a group, equities 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 paid a dividend of $0.485 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. 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 company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock worth $22,795,742 in the last 90 days. 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.