Mission Wealth Management LP Buys 241 Shares of The Coca-Cola Company (NYSE:KO)

Mission Wealth Management LP raised its position in The Coca-Cola Company (NYSE:KO) by 0.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 37,379 shares of the company’s stock after buying an additional 241 shares during the quarter. Mission Wealth Management LP’s holdings in Coca-Cola were worth $2,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hara Capital LLC bought a new position in Coca-Cola in the third quarter valued at about $35,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the 3rd quarter valued at about $43,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the 4th quarter valued at about $37,000. MilWealth Group LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $40,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth approximately $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 19,058 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,646 shares of company stock worth $16,515,469. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

KO opened at $72.29 on Tuesday. The company has a market capitalization of $310.92 billion, a price-to-earnings ratio of 29.27, a P/E/G ratio of 3.79 and a beta of 0.61. The business’s 50-day moving average price is $64.73 and its two-hundred day moving average price is $66.52. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. 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) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. 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 payout ratio is currently 82.59%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KO shares. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. Morgan Stanley upped their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler raised their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Company 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.