Kestra Private Wealth Services LLC Sells 2,856 Shares of The Coca-Cola Company (NYSE:KO)

Kestra Private Wealth Services LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 185,240 shares of the company’s stock after selling 2,856 shares during the period. Kestra Private Wealth Services LLC’s holdings in Coca-Cola were worth $10,916,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KO. Bill Few Associates Inc. raised its position in shares of Coca-Cola by 9.1% in the third quarter. Bill Few Associates Inc. now owns 5,709 shares of the company’s stock valued at $320,000 after purchasing an additional 477 shares during the period. Atlantic Union Bankshares Corp raised its holdings in Coca-Cola by 3.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 38,546 shares of the company’s stock valued at $2,158,000 after acquiring an additional 1,125 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Coca-Cola by 0.8% during the third quarter. Commonwealth Equity Services LLC now owns 1,764,924 shares of the company’s stock worth $98,800,000 after acquiring an additional 14,729 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Coca-Cola by 1.1% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,243,015 shares of the company’s stock worth $69,584,000 after acquiring an additional 13,500 shares during the period. Finally, Mcdaniel Terry & Co. grew its position in shares of Coca-Cola by 0.7% in the third quarter. Mcdaniel Terry & Co. now owns 426,172 shares of the company’s stock valued at $23,857,000 after purchasing an additional 3,166 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Citigroup raised their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays upped their price target 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $67.22.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $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 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.5 %

KO stock traded up $0.30 during trading on Monday, hitting $62.04. 13,417,406 shares of the company traded hands, compared to its average volume of 13,989,353. The company has a 50-day moving average of $60.17 and a 200-day moving average of $58.96. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.69. The firm has a market capitalization of $267.47 billion, a PE ratio of 25.02, a P/E/G ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the business posted $0.45 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.485 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.13%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is 78.23%.

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.