The Coca-Cola Company (NYSE:KO) Shares Purchased by Pacific Wealth Strategies Group Inc.

Pacific Wealth Strategies Group Inc. lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,853 shares of the company’s stock after buying an additional 189 shares during the quarter. Coca-Cola accounts for approximately 1.2% of Pacific Wealth Strategies Group Inc.’s holdings, making the stock its 25th largest position. Pacific Wealth Strategies Group Inc.’s holdings in Coca-Cola were worth $1,229,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in KO. Morgan Stanley raised its position in shares of Coca-Cola by 2.5% during the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after acquiring an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Coca-Cola by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock valued at $3,501,789,000 after purchasing an additional 2,464,618 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Coca-Cola by 4.8% in the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after purchasing an additional 2,040,664 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Coca-Cola by 8.2% in the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock valued at $1,446,822,000 after purchasing an additional 1,963,963 shares during the period. Finally, California Public Employees Retirement System raised its stake in Coca-Cola by 16.4% in the 4th quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after acquiring an additional 1,949,500 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of KO stock traded up $0.24 during trading on Wednesday, hitting $60.88. The company had a trading volume of 3,503,451 shares, compared to its average volume of 13,764,298. The firm has a market capitalization of $262.47 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.69. The stock’s 50-day moving average price is $59.98 and its 200 day moving average price is $58.72. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same period in the prior year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts expect that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.485 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.19%. Coca-Cola’s payout ratio is presently 78.23%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KO shares. Barclays lifted their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Citigroup increased their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $67.09.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the business’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 transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 375,407 shares of company stock worth $22,795,742. Company insiders own 0.97% of the company’s stock.

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.