The Coca-Cola Company (NYSE:KO) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 10.7% in the fourth quarter, Holdings Channel reports. The firm owned 34,866 shares of the company’s stock after selling 4,164 shares during the period. Marks Group Wealth Management Inc’s holdings in Coca-Cola were worth $2,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ZRC Wealth Management LLC grew its position in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $38,000. Avion Wealth grew its position in Coca-Cola by 64.8% in the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after acquiring an additional 322 shares in the last quarter. Finally, Clear Investment Research LLC grew its position in Coca-Cola by 36.1% in the third quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KO shares. Barclays raised their price objective on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. reduced their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Citigroup raised their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $67.09.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock worth $22,795,742 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

KO stock traded up $0.05 during mid-day trading on Tuesday, reaching $60.60. The company had a trading volume of 8,187,329 shares, compared to its average volume of 13,824,922. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $261.26 billion, a P/E ratio of 24.38, a P/E/G ratio of 3.44 and a beta of 0.59. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.99. The stock’s 50-day simple moving average is $59.95 and its two-hundred day simple moving average is $58.67.

Coca-Cola (NYSE:KO) last posted 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. The company had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. Research analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.485 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is currently 78.23%.

Coca-Cola Company 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.