RKL Wealth Management LLC Acquires 2,303 Shares of The Coca-Cola Company (NYSE:KO)

RKL Wealth Management LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 43.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,584 shares of the company’s stock after purchasing an additional 2,303 shares during the quarter. RKL Wealth Management LLC’s holdings in Coca-Cola were worth $472,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KO. Mainstream Capital Management LLC bought a new stake in Coca-Cola during the fourth quarter valued at about $31,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter valued at about $35,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $37,000. MilWealth Group LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth approximately $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola in the 3rd quarter worth approximately $43,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.5 %

Shares of Coca-Cola stock opened at $71.52 on Friday. The stock has a market cap of $307.60 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The firm has a fifty day moving average price of $65.36 and a 200 day moving average price of $66.60. 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 released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share 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 research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. Coca-Cola’s payout ratio is presently 82.59%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on KO shares. UBS Group raised their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Evercore ISI raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $74.24.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,646 shares of company stock worth $16,515,469. Corporate insiders own 0.97% of the company’s stock.

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.