Prestige Wealth Management Group LLC Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Prestige Wealth Management Group LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 6.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,517 shares of the company’s stock after acquiring an additional 704 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Coca-Cola were worth $717,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. FMR LLC increased its position in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Coca-Cola during the fourth quarter valued at $500,192,000. Wellington Management Group LLP boosted its holdings in Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were 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 of the company’s stock, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of a number of analyst reports. Barclays upped their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Morgan Stanley boosted their price objective 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. JPMorgan Chase & Co. cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Stock Up 0.4 %

NYSE KO opened at $68.97 on Tuesday. The stock’s 50-day moving average price is $67.15 and its 200-day moving average price is $66.42. The company has a market capitalization of $296.81 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. 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 Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. On average, 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 firm 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 dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.96%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

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.