The Coca-Cola Company (NYSE:KO) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 310,479 shares of the company’s stock after buying an additional 5,718 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Coca-Cola were worth $19,330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rice Partnership LLC lifted its position in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after buying an additional 6,793 shares in the last quarter. Fiduciary Alliance LLC increased its holdings in Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after acquiring an additional 8,499 shares in the last quarter. Wellington Management Group LLP raised its position in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the period. OneAscent Wealth Management LLC purchased a new position in Coca-Cola during the third quarter valued at $738,000. Finally, Richard C. Young & CO. LTD. increased its stake in shares of Coca-Cola by 9.0% during the third quarter. Richard C. Young & CO. LTD. now owns 158,900 shares of the company’s stock worth $11,419,000 after purchasing an additional 13,110 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The sale 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 firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KO shares. UBS Group lifted their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Stock Down 0.7 %

Shares of NYSE:KO opened at $69.16 on Monday. The company has a market capitalization of $297.47 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The business has a 50-day moving average price of $66.18 and a 200 day moving average price of $66.54. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Sell-side analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. Coca-Cola’s payout ratio is presently 82.59%.

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.