Grant Private Wealth Management Inc Takes Position in The Coca-Cola Company (NYSE:KO)

Grant Private Wealth Management Inc purchased a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,472 shares of the company’s stock, valued at approximately $403,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. bought a new position in Coca-Cola in the 4th quarter worth about $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the fourth quarter worth approximately $37,000. Murphy & Mullick Capital Management Corp purchased a new position in Coca-Cola during the 4th quarter worth $38,000. Finally, Hoey Investments Inc. lifted its holdings in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after buying an additional 181 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.6 %

Coca-Cola stock opened at $71.46 on Thursday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a 50-day moving average price of $68.33 and a 200 day moving average price of $66.42. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $307.53 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.51 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. UBS Group upped their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. TD Cowen 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 Wednesday, January 8th. Finally, Morgan Stanley lifted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.