Providence Wealth Advisors LLC Lowers Stock Position in The Coca-Cola Company (NYSE:KO)

Providence Wealth Advisors LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,559 shares of the company’s stock after selling 525 shares during the period. Coca-Cola makes up about 1.3% of Providence Wealth Advisors LLC’s portfolio, making the stock its 24th biggest position. Providence Wealth Advisors LLC’s holdings in Coca-Cola were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Howard Capital Management Group LLC lifted its position in Coca-Cola by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after acquiring an additional 2,069 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Coca-Cola by 17.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,810,705 shares of the company’s stock valued at $201,977,000 after acquiring an additional 417,353 shares during the last quarter. Cadence Bank grew its position in Coca-Cola by 1.0% during the 3rd quarter. Cadence Bank now owns 70,972 shares of the company’s stock worth $5,100,000 after purchasing an additional 668 shares during the period. NCP Inc. boosted its position in Coca-Cola by 9.2% in the 3rd quarter. NCP Inc. now owns 3,571 shares of the company’s stock worth $257,000 after purchasing an additional 300 shares in the last quarter. Finally, Townsquare Capital LLC increased its holdings in shares of Coca-Cola by 5.2% during the 3rd quarter. Townsquare Capital LLC now owns 325,878 shares of the company’s stock valued at $23,418,000 after purchasing an additional 16,198 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. UBS Group boosted their price objective on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Barclays boosted their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Two investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Trading Up 1.8 %

KO opened at $70.02 on Thursday. The business’s 50 day moving average price is $67.45 and its 200 day moving average price is $66.43. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market capitalization of $301.32 billion, a PE ratio of 28.35, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a one year low of $57.93 and a one year 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%. As a group, equities research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current 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 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 dividend yield of 2.91%. Coca-Cola’s payout ratio is 82.59%.

Insider Activity

In related news, insider Bruno Pietracci sold 19,058 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 313,423 shares of company stock worth $22,263,071. Corporate insiders own 0.97% of the company’s stock.

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.