Modern Wealth Management LLC Has $2.36 Million Stake in The Coca-Cola Company (NYSE:KO)

Modern Wealth Management LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,503 shares of the company’s stock after purchasing an additional 5,895 shares during the quarter. Modern Wealth Management LLC’s holdings in Coca-Cola were worth $2,356,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in KO. Crowley Wealth Management Inc. acquired a new position in Coca-Cola during the 4th quarter worth $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola during the fourth quarter valued at $37,000. MilWealth Group LLC bought a new position in Coca-Cola in the fourth quarter valued at about $40,000. Finally, Hara Capital LLC increased its position in Coca-Cola by 43.7% in the fourth quarter. Hara Capital LLC now owns 691 shares of the company’s stock worth $43,000 after purchasing an additional 210 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.1 %

Shares of NYSE:KO opened at $68.85 on Wednesday. The firm has a market cap of $296.30 billion, a price-to-earnings ratio of 27.87, a PEG 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 12 month low of $57.93 and a 12 month high of $73.53. The company’s fifty day simple moving average is $67.28 and its 200 day simple moving average is $66.40.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS 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%. As a group, research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date of this dividend 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 dividend yield of 2.96%. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Transactions at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares of the company’s stock, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock valued at $22,263,071 over the last 90 days. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Evercore ISI raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

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.