SeaCrest Wealth Management LLC Reduces Holdings in The Coca-Cola Company (NYSE:KO)

SeaCrest Wealth Management LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,767 shares of the company’s stock after selling 380 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Coca-Cola were worth $1,791,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of KO. FMR LLC raised its holdings in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC raised its stake in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares during the last quarter. Legal & General Group Plc lifted its position in Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares during the period. Wellington Management Group LLP grew its stake in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after purchasing an additional 1,609,565 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Piper Sandler initiated coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective on the stock. Barclays decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

Coca-Cola Trading Up 0.5 %

Shares of NYSE:KO opened at $61.98 on Wednesday. The business’s 50 day moving average price is $62.78 and its 200-day moving average price is $66.47. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm has a market capitalization of $267.00 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.13%. The ex-dividend date was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

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.