Xcel Wealth Management LLC Decreases Position in The Coca-Cola Company (NYSE:KO)

Xcel Wealth Management LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,130 shares of the company’s stock after selling 1,061 shares during the quarter. Xcel Wealth Management LLC’s holdings in Coca-Cola were worth $631,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC increased its holdings in shares of Coca-Cola by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after purchasing an additional 2,069 shares during the period. Goldstone Financial Group LLC acquired a new position in Coca-Cola during the third quarter worth $228,000. Aspen Wealth Strategies LLC acquired a new position in Coca-Cola during the third quarter worth $216,000. Pacific Wealth Strategies Group Inc. grew its holdings in Coca-Cola by 1.7% in the third quarter. Pacific Wealth Strategies Group Inc. now owns 22,028 shares of the company’s stock valued at $1,583,000 after purchasing an additional 372 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in Coca-Cola by 0.9% in the third quarter. Stephens Inc. AR now owns 409,125 shares of the company’s stock valued at $29,400,000 after purchasing an additional 3,793 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler raised their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. DZ Bank upgraded 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 Thursday, February 13th. Finally, Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.24.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the business’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 directly owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,646 shares of company stock worth $16,515,469. 0.97% of the stock is owned by company insiders.

Coca-Cola Trading Up 0.5 %

NYSE:KO opened at $71.20 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a market cap of $306.22 billion, a PE ratio of 28.82, a P/E/G ratio of 3.79 and a beta of 0.61. 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 business’s 50 day moving average is $64.53 and its two-hundred day moving average is $66.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, analysts predict 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 given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is 82.59%.

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.