Wolff Wiese Magana LLC Has $1.70 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Wolff Wiese Magana LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 3.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,344 shares of the company’s stock after purchasing an additional 1,002 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Coca-Cola were worth $1,702,000 as of its most recent filing with the Securities & Exchange Commission.

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

Coca-Cola Stock Performance

NYSE:KO opened at $62.42 on Wednesday. The firm has a 50-day moving average price of $62.78 and a 200 day moving average price of $66.47. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The firm has a market capitalization of $268.89 billion, a PE ratio of 25.79, 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.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $11.61 billion. During the same quarter last year, the business posted $0.74 earnings per share. The company’s revenue was down .8% on a year-over-year basis. Research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.485 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.11%. Coca-Cola’s dividend payout ratio is 80.17%.

Analysts Set New Price Targets

Several research firms have weighed in on KO. Piper Sandler initiated coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective on the stock. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company lowered 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 7th. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction 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. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is currently owned by company insiders.

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.