The Coca-Cola Company (NYSE:KO) Holdings Boosted by Focus Partners Wealth

Focus Partners Wealth grew its holdings in The Coca-Cola Company (NYSE:KO) by 51.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,022,465 shares of the company’s stock after purchasing an additional 347,470 shares during the period. Focus Partners Wealth’s holdings in Coca-Cola were worth $68,986,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Peachtree Investment Partners LLC grew its position in Coca-Cola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after purchasing an additional 157 shares during the period. Fort Sheridan Advisors LLC increased its position in shares of Coca-Cola by 3.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after acquiring an additional 161 shares in the last quarter. Excalibur Management Corp raised its holdings in shares of Coca-Cola by 0.6% in the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after acquiring an additional 161 shares during the last quarter. Wells Trecaso Financial Group LLC lifted its position in Coca-Cola by 4.8% in the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock valued at $225,000 after acquiring an additional 164 shares in the last quarter. Finally, Atlas Brown Inc. increased its holdings in Coca-Cola by 0.8% during the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock worth $1,309,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold 462,407 shares of company stock valued at $32,990,056 over the last three months. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Down 0.8 %

KO stock opened at $70.62 on Friday. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a market capitalization of $303.92 billion, a PE ratio of 28.59, a PEG ratio of 3.79 and a beta of 0.47. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The stock has a 50-day simple moving average of $70.95 and a two-hundred day simple moving average of $66.65.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KO shares. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Piper Sandler raised their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Finally, Evercore ISI lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $75.59.

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.