Naviter Wealth LLC Grows Stake in The Coca-Cola Company (NYSE:KO)

Naviter Wealth LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 27.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,405 shares of the company's stock after acquiring an additional 10,389 shares during the period. Naviter Wealth LLC's holdings in Coca-Cola were worth $3,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of KO. Charles Schwab Investment Management Inc. increased its holdings in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares in the last quarter. FMR LLC boosted its position in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Coca-Cola in the fourth quarter worth $500,192,000. Wellington Management Group LLP raised its position in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Coca-Cola during the 3rd quarter valued at $269,382,000. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction on 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 sale, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,146 shares of company stock valued at $20,456,524 in the last ninety days. 0.97% of the stock is owned by company insiders.

Remove Ads

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Piper Sandler upped their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Royal Bank of Canada reissued an "outperform" rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Barclays upped their price target on Coca-Cola from $66.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.24.

Coca-Cola Trading Down 0.6 %

KO stock traded down $0.45 during midday trading on Tuesday, reaching $71.00. 28,069,766 shares of the company traded hands, compared to its average volume of 14,026,756. The firm has a market capitalization of $305.37 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The business has a 50 day moving average of $65.72 and a 200-day moving average of $66.58. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, sell-side analysts expect 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 issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.87%. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola's dividend payout ratio is presently 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.