Ashton Thomas Private Wealth LLC Has $5.24 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Ashton Thomas Private Wealth LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 12.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 84,175 shares of the company's stock after purchasing an additional 9,455 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Coca-Cola were worth $5,241,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in KO. Howard Capital Management Group LLC boosted its holdings in Coca-Cola by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company's stock valued at $28,716,000 after acquiring an additional 2,069 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC bought a new position in Coca-Cola in the third quarter valued at about $270,000. Graypoint LLC boosted its holdings in Coca-Cola by 5.2% in the third quarter. Graypoint LLC now owns 36,910 shares of the company's stock valued at $2,652,000 after acquiring an additional 1,836 shares during the last quarter. Advisor Resource Council bought a new position in Coca-Cola in the third quarter valued at about $769,000. Finally, Baugh & Associates LLC boosted its holdings in Coca-Cola by 11.5% in the third quarter. Baugh & Associates LLC now owns 4,582 shares of the company's stock valued at $329,000 after acquiring an additional 473 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Performance

Shares of NYSE KO traded up $1.06 during midday trading on Friday, hitting $71.52. 28,389,711 shares of the company's stock were exchanged, compared to its average volume of 17,970,895. 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 12 month low of $57.93 and a 12 month high of $73.53. The company's 50 day moving average price is $65.36 and its 200 day moving average price is $66.58. The firm has a market capitalization of $307.60 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

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Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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%. As a group, analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 an increase from Coca-Cola's previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.85%. Coca-Cola's payout ratio is 82.59%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the insider now directly owns 246,909 shares of the company's stock, valued at $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,646 shares of company stock worth $16,515,469 in the last ninety days. 0.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Wells Fargo & Company raised their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and raised their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.24.

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.