Baker Tilly Wealth Management LLC Sells 406 Shares of The Coca-Cola Company (NYSE:KO)

Baker Tilly Wealth Management LLC trimmed its position in The Coca-Cola Company (NYSE:KO) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,545 shares of the company’s stock after selling 406 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Coca-Cola were worth $1,030,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of KO. Apella Capital LLC grew its stake in shares of Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after purchasing an additional 146 shares during the period. Investment Advisory Group LLC increased its stake in shares of Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after purchasing an additional 146 shares in the last quarter. CCG Wealth Management LLC raised its position in shares of Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after purchasing an additional 149 shares during the period. Investment Partners Asset Management Inc. boosted its holdings in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after acquiring an additional 150 shares during the period. Finally, Chapin Davis Inc. increased its stake in Coca-Cola by 1.0% in the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. Piper Sandler initiated coverage on shares of Coca-Cola in a research note on Tuesday. They issued an “overweight” rating and a $74.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Coca-Cola Stock Down 1.5 %

NYSE KO traded down $0.92 during trading on Friday, hitting $60.79. The company’s stock had a trading volume of 3,391,439 shares, compared to its average volume of 12,719,689. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market cap of $261.87 billion, a PE ratio of 25.12, a P/E/G ratio of 3.83 and a beta of 0.61. The business’s 50 day simple moving average is $62.99 and its 200-day simple moving average is $66.48.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

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.