Arbor Wealth Advisors LLC Has $515,000 Stake in The Coca-Cola Company (NYSE:KO)

Arbor Wealth Advisors LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,265 shares of the company’s stock after purchasing an additional 818 shares during the quarter. Arbor Wealth Advisors LLC’s holdings in Coca-Cola were worth $515,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its stake in shares of Coca-Cola by 9.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 87,195 shares of the company’s stock worth $5,550,000 after purchasing an additional 7,594 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Coca-Cola by 2.9% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 209,513 shares of the company’s stock valued at $13,336,000 after acquiring an additional 5,903 shares during the period. Fairfield Financial Advisors LTD purchased a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $65,000. Angeles Investment Advisors LLC lifted its stake in Coca-Cola by 3.0% in the second quarter. Angeles Investment Advisors LLC now owns 18,913 shares of the company’s stock valued at $1,207,000 after purchasing an additional 543 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Coca-Cola by 9.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after purchasing an additional 329 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Up 1.0 %

Shares of KO opened at $61.68 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The firm has a 50 day moving average price of $62.84 and a 200-day moving average price of $66.48. The firm has a market cap of $265.70 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the business posted $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KO. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Piper Sandler initiated coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective for the company. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Two 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.60.

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.