Naviter Wealth LLC Grows Holdings in The Coca-Cola Company (NYSE:KO)

Naviter Wealth LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 27.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 48,405 shares of the company’s stock after acquiring an additional 10,389 shares during the quarter. Naviter Wealth LLC’s holdings in Coca-Cola were worth $3,014,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hara Capital LLC purchased a new stake in Coca-Cola in the third quarter worth $35,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola in the fourth quarter worth $31,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola in the third quarter worth $43,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the fourth quarter worth $37,000. Finally, MilWealth Group LLC purchased a new stake in Coca-Cola in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,646 shares of company stock valued at $16,515,469. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. 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. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Morgan Stanley increased their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, DZ Bank 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 Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Price Performance

Shares of KO stock opened at $71.52 on Friday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The stock’s 50-day moving average is $65.36 and its 200 day moving average is $66.60. The company has a market cap of $307.60 billion, a P/E ratio of 28.96, a PEG ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

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, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal 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 $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

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.