Avidian Wealth Solutions LLC Sells 1,569 Shares of The Coca-Cola Company (NYSE:KO)

Avidian Wealth Solutions LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,241 shares of the company’s stock after selling 1,569 shares during the period. Avidian Wealth Solutions LLC’s holdings in Coca-Cola were worth $1,723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ZRC Wealth Management LLC boosted its holdings in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in Coca-Cola in the 4th quarter worth about $30,000. Financial Connections Group Inc. purchased a new stake in Coca-Cola during the 4th quarter valued at about $38,000. Avion Wealth increased its stake in Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after purchasing an additional 322 shares in the last quarter. Finally, Clear Investment Research LLC raised its holdings in Coca-Cola by 36.1% in the third 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 last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola 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 value of $1,102,114.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction that occurred on 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 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 sold a total of 323,107 shares of company stock valued at $19,657,742 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock traded up $0.18 during trading on Friday, reaching $62.17. The company had a trading volume of 11,628,675 shares, compared to its average volume of 13,782,690. The firm has a market capitalization of $268.03 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 3.55 and a beta of 0.57. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The firm’s 50-day simple moving average is $60.24 and its 200 day simple moving average is $59.19. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.25.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. Sell-side analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. Coca-Cola’s payout ratio is currently 77.60%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KO shares. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI lifted their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays upped their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Citigroup boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $68.27.

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.