The Coca-Cola Company (NYSE:KO) Position Boosted by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC raised its position in shares of The Coca-Cola Company (NYSE:KO) by 221.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,416 shares of the company’s stock after buying an additional 11,310 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Coca-Cola were worth $1,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC acquired a new position in Coca-Cola in the second quarter worth $26,000. Quarry LP bought a new position in shares of Coca-Cola in the 2nd quarter worth about $27,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the 1st quarter valued at about $28,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the 3rd quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the third quarter worth about $36,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of research reports. Royal Bank of Canada increased their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Barclays lowered their price target 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. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Citigroup raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Activity

In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 203,748 shares of company stock worth $14,274,431. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.9 %

KO opened at $63.37 on Tuesday. The stock’s fifty day moving average is $69.37 and its 200-day moving average is $66.52. The Coca-Cola Company has a one year low of $56.60 and a one year high of $73.53. The company has a market capitalization of $272.99 billion, a PE ratio of 26.19, a P/E/G ratio of 3.88 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.06%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Coca-Cola 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.