ACT Wealth Management LLC Takes Position in The Coca-Cola Company (NYSE:KO)

ACT Wealth Management LLC purchased a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,434 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Castleview Partners LLC increased its stake in Coca-Cola by 4.4% during the first quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock worth $246,000 after acquiring an additional 167 shares during the last quarter. Enterprise Bank & Trust Co increased its position in shares of Coca-Cola by 3.4% during the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after acquiring an additional 167 shares during the period. Somerville Kurt F boosted its stake in shares of Coca-Cola by 0.8% in the 1st quarter. Somerville Kurt F now owns 21,377 shares of the company’s stock valued at $1,325,000 after buying an additional 172 shares during the period. VitalStone Financial LLC increased its position in shares of Coca-Cola by 46.5% in the 2nd quarter. VitalStone Financial LLC now owns 545 shares of the company’s stock valued at $34,000 after purchasing an additional 173 shares during the last quarter. Finally, Wayfinding Financial LLC raised its stake in Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after buying an additional 175 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO opened at $60.97 on Thursday. 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 company has a 50-day moving average of $60.04 and a two-hundred day moving average of $58.30. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99. The stock has a market cap of $262.85 billion, a P/E ratio of 24.61, a PEG ratio of 3.43 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the firm earned $0.45 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be paid a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, March 14th. Coca-Cola’s payout ratio is currently 78.23%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now owns 143,383 shares in the company, valued at $8,602,980. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. Citigroup boosted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Barclays raised their target price on shares of Coca-Cola from $60.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. boosted their price target on Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.