The Coca-Cola Company (NYSE:KO) Shares Bought by Concord Wealth Partners

Concord Wealth Partners boosted its holdings in The Coca-Cola Company (NYSE:KO) by 33.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,295 shares of the company’s stock after acquiring an additional 10,954 shares during the period. Concord Wealth Partners’ holdings in Coca-Cola were worth $2,551,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KO. ICW Investment Advisors LLC boosted its position in shares of Coca-Cola by 1.8% during the 4th quarter. ICW Investment Advisors LLC now owns 33,917 shares of the company’s stock worth $1,999,000 after purchasing an additional 587 shares during the period. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Coca-Cola by 1.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 61,480 shares of the company’s stock valued at $3,623,000 after buying an additional 925 shares during the period. Hexagon Capital Partners LLC lifted its stake in Coca-Cola by 13.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock worth $744,000 after acquiring an additional 1,495 shares in the last quarter. Parthenon LLC boosted its holdings in Coca-Cola by 1.0% during the 4th quarter. Parthenon LLC now owns 71,645 shares of the company’s stock valued at $4,222,000 after acquiring an additional 710 shares during the period. Finally, Savant Capital LLC grew its position in Coca-Cola by 1.6% in the 4th quarter. Savant Capital LLC now owns 527,294 shares of the company’s stock valued at $31,073,000 after acquiring an additional 8,064 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of NYSE KO traded up $0.57 during trading hours on Wednesday, reaching $62.34. The stock had a trading volume of 9,685,970 shares, compared to its average volume of 13,992,145. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.25. The firm has a 50-day moving average of $60.19 and a 200-day moving average of $59.02. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market cap of $268.76 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 3.54 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.485 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Evercore ISI upped their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays upped their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. upped their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Citigroup upped their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.18.

Insider Activity

In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders sold 323,107 shares of company stock valued at $19,657,742 in the last three months. 0.97% of the stock is currently owned by company insiders.

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.