The Coca-Cola Company (NYSE:KO) Position Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 12.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 785,335 shares of the company’s stock after buying an additional 89,075 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Coca-Cola were worth $49,987,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Tidemark LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC bought a new stake in Coca-Cola during the 4th quarter valued at $27,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola during the 1st quarter worth $28,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the first quarter worth $28,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola in the fourth quarter worth $30,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock traded up $0.21 on Wednesday, reaching $68.67. The stock had a trading volume of 3,962,043 shares, compared to its average volume of 13,001,200. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $69.67. The business’s 50-day moving average price is $64.82 and its two-hundred day moving average price is $62.21. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a market cap of $295.83 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.83%. Coca-Cola’s payout ratio is 77.60%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KO. Truist Financial upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. BNP Paribas initiated coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Citigroup raised their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $70.20.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the sale, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 871,162 shares of company stock valued at $571,697,887. 0.97% of the stock is owned by company insiders.

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.