VanWeelden Wealth Management LLC Buys New Shares in The Coca-Cola Company (NYSE:KO)

VanWeelden Wealth Management LLC bought a new stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,983 shares of the company's stock, valued at approximately $248,000. Coca-Cola accounts for approximately 0.2% of VanWeelden Wealth Management LLC's portfolio, making the stock its 19th largest holding.

Other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola during the 4th quarter valued at $31,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the third quarter worth $43,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the fourth quarter worth $37,000. MilWealth Group LLC acquired a new position in Coca-Cola during the fourth quarter worth $40,000. Finally, Hara Capital LLC raised its holdings in Coca-Cola by 43.7% during the fourth quarter. Hara Capital LLC now owns 691 shares of the company's stock worth $43,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insiders Place Their Bets

In other news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction dated 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 sale, the insider now directly owns 246,909 shares of the company's stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The stock was 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 288,146 shares of company stock worth $20,456,524 over the last quarter. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on KO. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. 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 research note on Wednesday, February 12th. Finally, DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $74.24.

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Coca-Cola Price Performance

KO opened at $69.95 on Thursday. The firm has a market cap of $300.83 billion, a P/E ratio of 28.32, a PEG ratio of 3.79 and a beta of 0.57. The firm has a 50-day moving average of $65.87 and a 200 day moving average of $66.61. 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 Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

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

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio (DPR) is currently 82.59%.

About Coca-Cola

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.

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