BCS Wealth Management Takes $629,000 Position in The Coca-Cola Company (NYSE:KO)

BCS Wealth Management 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 10,108 shares of the company’s stock, valued at approximately $629,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Apella Capital LLC increased its position in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares during the period. Investment Advisory Group LLC grew its stake in Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after purchasing an additional 146 shares in the last quarter. CCG Wealth Management LLC grew its stake in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. increased its holdings in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares during the period. Finally, Chapin Davis Inc. raised its position in Coca-Cola by 1.0% during the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $61.68 on Tuesday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a market cap of $265.70 billion, a PE ratio of 25.49, a P/E/G ratio of 3.83 and a beta of 0.61. 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 business has a 50-day simple moving average of $62.84 and a two-hundred day simple moving average of $66.48.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the business earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $0.485 dividend. 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 payout ratio is 80.17%.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was 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 directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KO. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Piper Sandler initiated coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, 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 research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.60.

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.