Woodmont Investment Counsel LLC Acquires 418 Shares of The Coca-Cola Company (NYSE:KO)

Woodmont Investment Counsel LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 107,090 shares of the company’s stock after purchasing an additional 418 shares during the period. Woodmont Investment Counsel LLC’s holdings in Coca-Cola were worth $6,667,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KO. Congress Wealth Management LLC DE lifted its holdings in Coca-Cola by 14.3% during the fourth quarter. Congress Wealth Management LLC DE now owns 1,287,604 shares of the company’s stock worth $80,166,000 after buying an additional 160,757 shares during the period. Dillon & Associates Inc. raised its position in shares of Coca-Cola by 3.2% in the 4th quarter. Dillon & Associates Inc. now owns 6,551 shares of the company’s stock worth $406,000 after acquiring an additional 201 shares in the last quarter. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola during the 4th quarter worth $27,000. Meridian Wealth Advisors LLC boosted its position in Coca-Cola by 1.1% during the fourth quarter. Meridian Wealth Advisors LLC now owns 42,811 shares of the company’s stock valued at $2,665,000 after purchasing an additional 455 shares in the last quarter. Finally, Meridian Wealth Partners LLC grew its stake in Coca-Cola by 17.2% in the fourth quarter. Meridian Wealth Partners LLC now owns 4,265 shares of the company’s stock valued at $266,000 after purchasing an additional 627 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on KO. Piper Sandler increased their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Insiders Place Their Bets

In other news, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. In the last three months, insiders sold 313,423 shares of company stock worth $22,263,071. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 1.6 %

Coca-Cola stock opened at $68.58 on Monday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The stock has a market capitalization of $295.12 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The business has a 50 day simple moving average of $67.00 and a 200-day simple moving average of $66.43. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.97%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

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.