Modern Wealth Management LLC Purchases 5,895 Shares of The Coca-Cola Company (NYSE:KO)

Modern Wealth Management LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 19.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,503 shares of the company’s stock after acquiring an additional 5,895 shares during the period. Modern Wealth Management LLC’s holdings in Coca-Cola were worth $2,356,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KO. Crowley Wealth Management Inc. acquired a new position in Coca-Cola during the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth $37,000. MilWealth Group LLC acquired a new stake in Coca-Cola in the fourth quarter valued at about $40,000. Finally, Sugar Maple Asset Management LLC bought a new position in Coca-Cola in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 in the last quarter. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KO. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler raised their target price 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 reiterated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Morgan Stanley upped their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Price Performance

Shares of NYSE KO opened at $68.85 on Wednesday. The company has a market capitalization of $296.30 billion, a PE ratio of 27.87, a P/E/G ratio of 3.79 and a beta of 0.57. 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 Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The firm has a fifty day simple moving average of $67.28 and a 200 day simple moving average of $66.40.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business 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 represents a $2.04 annualized dividend and a dividend yield of 2.96%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 82.59%.

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.