Johnson & White Wealth Management LLC Invests $866,000 in The Coca-Cola Company (NYSE:KO)

Johnson & White Wealth Management LLC bought a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 13,997 shares of the company’s stock, valued at approximately $866,000.

Several other institutional investors have also recently made changes to their positions in the company. Greenfield Savings Bank lifted its holdings in shares of Coca-Cola by 6.6% in the 4th quarter. Greenfield Savings Bank now owns 19,742 shares of the company’s stock worth $1,229,000 after acquiring an additional 1,225 shares during the last quarter. Gleason Group Inc. increased its holdings in shares of Coca-Cola by 1.4% in the fourth quarter. Gleason Group Inc. now owns 15,268 shares of the company’s stock worth $951,000 after buying an additional 217 shares during the period. Cullen Investment Group LTD. lifted its stake in shares of Coca-Cola by 3.6% in the 4th quarter. Cullen Investment Group LTD. now owns 15,122 shares of the company’s stock valued at $942,000 after acquiring an additional 532 shares during the last quarter. Marcum Wealth LLC boosted its holdings in Coca-Cola by 1.8% during the 4th quarter. Marcum Wealth LLC now owns 18,077 shares of the company’s stock valued at $1,125,000 after acquiring an additional 313 shares during the period. Finally, Traveka Wealth LLC increased its stake in Coca-Cola by 959.9% in the 4th quarter. Traveka Wealth LLC now owns 57,105 shares of the company’s stock worth $3,555,000 after purchasing an additional 51,717 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $61.68 on Tuesday. The firm has a market capitalization of $265.70 billion, a P/E ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average price of $62.84 and a 200 day moving average price of $66.48. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion during 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%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.15%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Piper Sandler initiated coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target for the company. 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 report on Wednesday, October 16th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

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.