IAG Wealth Partners LLC Boosts Stake in The Coca-Cola Company (NYSE:KO)

IAG Wealth Partners LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 197.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,212 shares of the company’s stock after purchasing an additional 805 shares during the quarter. IAG Wealth Partners LLC’s holdings in Coca-Cola were worth $75,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in KO. Howard Capital Management Group LLC lifted its stake in shares of 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 purchasing an additional 2,069 shares during the period. United Bank increased its holdings in shares of Coca-Cola by 65.4% during the 3rd quarter. United Bank now owns 80,888 shares of the company’s stock worth $5,813,000 after buying an additional 31,979 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Coca-Cola by 6.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,994 shares of the company’s stock worth $359,000 after buying an additional 305 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Coca-Cola during the 3rd quarter worth $932,000. Finally, Aptus Capital Advisors LLC increased its holdings in shares of Coca-Cola by 10.7% during the 3rd quarter. Aptus Capital Advisors LLC now owns 47,665 shares of the company’s stock worth $3,425,000 after buying an additional 4,613 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 1.5 %

Shares of Coca-Cola stock opened at $69.95 on Thursday. The business has a 50-day moving average of $65.87 and a 200-day moving average of $66.61. 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 company has a market capitalization of $300.83 billion, a PE ratio of 28.32, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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%. As a group, equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a boost 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 2.92%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares in the company, valued at $17,520,662.64. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 288,146 shares of company stock valued at $20,456,524. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KO. Barclays upped their price objective on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. UBS Group upped their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Two investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.24.

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.