The Coca-Cola Company (NYSE:KO) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 5.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 138,300 shares of the company’s stock after selling 8,389 shares during the period. Wealthspire Advisors LLC’s holdings in Coca-Cola were worth $8,150,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. ZRC Wealth Management LLC increased its holdings in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $30,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $32,000. Financial Connections Group Inc. acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $38,000. Finally, Avion Wealth grew its holdings 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 buying an additional 322 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 value of $1,102,114.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Insiders sold a total of 380,405 shares of company stock valued at $23,209,645 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.1 %

NYSE KO traded up $0.04 during trading on Thursday, reaching $62.89. 9,111,184 shares of the company’s stock were exchanged, compared to its average volume of 13,826,171. The company’s fifty day simple moving average is $60.37 and its 200-day simple moving average is $59.33. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $270.93 billion, a PE ratio of 25.15, a P/E/G ratio of 3.53 and a beta of 0.57. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.25.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates 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 was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. Sell-side analysts predict that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.08%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Upgrades and Downgrades

KO has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Citigroup upped their price objective 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. Evercore ISI raised their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Barclays upped their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, UBS Group raised their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.