The Coca-Cola Company (NYSE:KO) Shares Acquired by Destination Wealth Management

Destination Wealth Management lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,456 shares of the company’s stock after purchasing an additional 867 shares during the quarter. Destination Wealth Management’s holdings in Coca-Cola were worth $6,317,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in KO. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter worth approximately $35,000. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola during the fourth quarter worth approximately $31,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola during the third quarter worth approximately $43,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the fourth quarter worth approximately $37,000. Finally, MilWealth Group LLC purchased a new position in shares of Coca-Cola during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $70.38 on Friday. The business’s fifty day moving average price is $65.18 and its 200 day moving average price is $66.58. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The stock has a market capitalization of $302.71 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.90%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,646 shares of company stock valued at $16,515,469 over the last three months. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KO shares. Barclays increased their price target on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. UBS Group lifted their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.24.

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.