Wexford Capital LP Has $812,000 Holdings in The Coca-Cola Company (NYSE:KO)

Wexford Capital LP lowered its stake in The Coca-Cola Company (NYSE:KO) by 7.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,047 shares of the company’s stock after selling 1,073 shares during the quarter. Wexford Capital LP’s holdings in Coca-Cola were worth $812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. Tallon Kerry Patrick acquired a new position in shares of Coca-Cola during the 4th quarter worth about $241,000. Merit Financial Group LLC lifted its position in shares of Coca-Cola by 11.9% during the 4th quarter. Merit Financial Group LLC now owns 99,793 shares of the company’s stock worth $6,213,000 after purchasing an additional 10,632 shares during the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of Coca-Cola by 5.2% during the 4th quarter. Premier Path Wealth Partners LLC now owns 13,300 shares of the company’s stock worth $828,000 after purchasing an additional 652 shares during the last quarter. Ameritas Advisory Services LLC lifted its position in shares of Coca-Cola by 1.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 61,322 shares of the company’s stock worth $3,818,000 after purchasing an additional 1,166 shares during the last quarter. Finally, Krilogy Financial LLC lifted its position in shares of Coca-Cola by 6.7% during the 4th quarter. Krilogy Financial LLC now owns 10,964 shares of the company’s stock worth $683,000 after purchasing an additional 690 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola 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 owns 94,676 shares of the company’s stock, valued at $6,769,334. The trade was a 12.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 462,407 shares of company stock worth $32,990,056 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KO. Royal Bank of Canada boosted their price target on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. UBS Group boosted their price target on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Piper Sandler upped their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $75.59.

Coca-Cola Stock Up 0.6%

NYSE:KO opened at $72.01 on Monday. The stock’s fifty day moving average price is $70.88 and its two-hundred day moving average price is $66.78. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. 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 company has a market cap of $309.93 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. On average, analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

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.