The Coca-Cola Company (NYSE:KO) Shares Purchased by Prentice Wealth Management LLC

Prentice Wealth Management LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,385 shares of the company’s stock after purchasing an additional 639 shares during the quarter. Prentice Wealth Management LLC’s holdings in Coca-Cola were worth $647,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the 4th quarter worth $37,000. MilWealth Group LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at about $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola in the third quarter valued at about $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE:KO opened at $71.37 on Friday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The firm has a 50 day simple moving average of $63.71 and a 200-day simple moving average of $66.44. The firm has a market cap of $307.46 billion, a PE ratio of 28.90, a P/E/G 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 issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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%. On average, equities analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 78.54%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KO. Evercore ISI increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Barclays increased their target price on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. UBS Group increased 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. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.82.

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.