Rialto Wealth Management LLC Takes Position in The Coca-Cola Company (NYSE:KO)

Rialto Wealth Management LLC purchased a new position in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,176 shares of the company’s stock, valued at approximately $73,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hamilton Capital Partners LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at about $252,000. Lifeworks Advisors LLC lifted its stake in Coca-Cola by 2.3% in the fourth quarter. Lifeworks Advisors LLC now owns 13,939 shares of the company’s stock valued at $868,000 after buying an additional 310 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Coca-Cola by 14.4% in the fourth quarter. Larson Financial Group LLC now owns 37,123 shares of the company’s stock valued at $2,311,000 after acquiring an additional 4,661 shares during the period. HM Payson & Co. grew its position in shares of Coca-Cola by 2.0% during the fourth quarter. HM Payson & Co. now owns 95,224 shares of the company’s stock worth $5,929,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Coca-Cola in the 4th quarter valued at $4,122,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Coca-Cola stock opened at $71.52 on Friday. 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 firm’s 50-day simple moving average is $65.36 and its 200 day simple moving average is $66.58. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The firm has a market capitalization of $307.60 billion, a PE ratio of 28.96, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS 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 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.85%. Coca-Cola’s payout ratio is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 232,646 shares of company stock worth $16,515,469. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KO. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler boosted their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Morgan Stanley lifted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Wells Fargo & Company increased their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target 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.