Horizon Wealth Management LLC Boosts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Horizon Wealth Management LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 66.7% in the 1st quarter, HoldingsChannel reports. The firm owned 5,894 shares of the company’s stock after purchasing an additional 2,359 shares during the period. Horizon Wealth Management LLC’s holdings in Coca-Cola were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in KO. Fortress Financial Group LLC grew its position in Coca-Cola by 4.3% during the first quarter. Fortress Financial Group LLC now owns 6,969 shares of the company’s stock worth $499,000 after buying an additional 289 shares during the period. Constitution Capital LLC grew its position in Coca-Cola by 41.2% during the first quarter. Constitution Capital LLC now owns 73,614 shares of the company’s stock worth $5,272,000 after buying an additional 21,470 shares during the period. Verum Partners LLC grew its position in Coca-Cola by 0.6% during the first quarter. Verum Partners LLC now owns 62,592 shares of the company’s stock worth $4,483,000 after buying an additional 368 shares during the period. Pines Wealth Management LLC grew its position in Coca-Cola by 18.5% during the first quarter. Pines Wealth Management LLC now owns 6,446 shares of the company’s stock worth $441,000 after buying an additional 1,006 shares during the period. Finally, Procyon Advisors LLC grew its position in Coca-Cola by 9.2% during the first quarter. Procyon Advisors LLC now owns 77,373 shares of the company’s stock worth $5,541,000 after buying an additional 6,534 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KO. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler upped their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, UBS Group increased their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola presently has an average rating of “Buy” and a consensus price target of $75.81.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 440,664 shares of company stock valued at $31,730,532. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $71.37 on Friday. 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 capitalization of $307.20 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.79 and a beta of 0.46. The company’s 50 day simple moving average is $71.39 and its 200 day simple moving average is $67.57. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

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

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend 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.