The Coca-Cola Company (NYSE:KO) Shares Purchased by Wallace Advisory Group LLC

Wallace Advisory Group LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 2.3% during the fourth quarter, Holdings Channel reports. The fund owned 7,513 shares of the company’s stock after acquiring an additional 172 shares during the quarter. Wallace Advisory Group LLC’s holdings in Coca-Cola were worth $468,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new position in Coca-Cola during the second quarter worth approximately $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the 3rd quarter valued at $36,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola in the 3rd quarter valued at $43,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Coca-Cola in the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.0 %

Shares of Coca-Cola stock opened at $61.68 on Tuesday. The stock has a market capitalization of $265.70 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a 50-day simple moving average of $62.84 and a 200 day simple moving average of $66.48. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KO shares. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Piper Sandler started coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective for the company. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.60.

About Coca-Cola

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.