Congress Wealth Management LLC DE Raises Stock Holdings in The Coca-Cola Company (NYSE:KO)

Congress Wealth Management LLC DE increased its position in The Coca-Cola Company (NYSE:KO - Free Report) by 14.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,287,604 shares of the company's stock after purchasing an additional 160,757 shares during the period. Coca-Cola comprises about 1.1% of Congress Wealth Management LLC DE's investment portfolio, making the stock its 10th biggest holding. Congress Wealth Management LLC DE's holdings in Coca-Cola were worth $80,166,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Dillon & Associates Inc. boosted its position in Coca-Cola by 3.2% during the 4th quarter. Dillon & Associates Inc. now owns 6,551 shares of the company's stock worth $406,000 after acquiring an additional 201 shares during the period. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola during the 4th quarter valued at $27,000. Meridian Wealth Advisors LLC raised its holdings in shares of Coca-Cola by 1.1% during the fourth quarter. Meridian Wealth Advisors LLC now owns 42,811 shares of the company's stock worth $2,665,000 after acquiring an additional 455 shares in the last quarter. Meridian Wealth Partners LLC increased its position in Coca-Cola by 17.2% in the 4th quarter. Meridian Wealth Partners LLC now owns 4,265 shares of the company's stock worth $266,000 after purchasing an additional 627 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Coca-Cola by 4.6% in the 4th quarter. LPL Financial LLC now owns 4,340,579 shares of the company's stock valued at $270,244,000 after buying an additional 191,712 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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Coca-Cola Stock Performance

Shares of NYSE KO traded up $0.78 during trading hours on Thursday, reaching $70.80. The stock had a trading volume of 11,657,614 shares, compared to its average volume of 14,063,476. The company has a market cap of $304.70 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The business's fifty day moving average is $67.62 and its two-hundred day moving average is $66.46. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

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

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued 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 2.88%. Coca-Cola's dividend payout ratio is presently 82.59%.

Insider Buying and Selling

In related news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the business's stock in a transaction dated 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. Insiders sold 313,423 shares of company stock worth $22,263,071 in the last 90 days. 0.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KO has been the subject of several recent research reports. Evercore ISI boosted 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. JPMorgan Chase & Co. decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Coca-Cola currently has an average 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.