Wealth Enhancement Advisory Services LLC Grows Stake in The Coca-Cola Company (NYSE:KO)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 893,192 shares of the company's stock after buying an additional 8,810 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Coca-Cola were worth $55,610,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Y.D. More Investments Ltd increased its holdings in Coca-Cola by 190.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 1,765 shares of the company's stock worth $112,000 after purchasing an additional 1,158 shares during the period. Achmea Investment Management B.V. lifted its stake in Coca-Cola by 1.7% in the second quarter. Achmea Investment Management B.V. now owns 143,615 shares of the company's stock worth $9,141,000 after acquiring an additional 2,350 shares during the period. PFG Advisors grew its holdings in Coca-Cola by 4.7% during the 2nd quarter. PFG Advisors now owns 12,755 shares of the company's stock worth $812,000 after acquiring an additional 567 shares in the last quarter. Ullmann Wealth Partners Group LLC increased its position in Coca-Cola by 6.9% during the 2nd quarter. Ullmann Wealth Partners Group LLC now owns 7,901 shares of the company's stock valued at $503,000 after purchasing an additional 512 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Coca-Cola by 8.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company's stock worth $532,558,000 after purchasing an additional 640,402 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. TD Cowen upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a report on Wednesday. Finally, Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coca-Cola currently has an average rating of "Moderate Buy" and a consensus price target of $72.60.

Coca-Cola Stock Performance

Shares of KO stock traded down $0.73 during trading hours on Friday, hitting $60.98. The company's stock had a trading volume of 22,420,855 shares, compared to its average volume of 15,991,351. The stock has a market cap of $262.69 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a 50 day moving average of $62.91 and a 200 day moving average of $66.48. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm's revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola's dividend payout ratio is currently 80.17%.

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.