Wealth Alliance Grows Position in The Coca-Cola Company (NYSE:KO)

Wealth Alliance increased its position in shares of The Coca-Cola Company (NYSE:KO) by 13.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,405 shares of the company’s stock after buying an additional 1,590 shares during the quarter. Wealth Alliance’s holdings in Coca-Cola were worth $790,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Hibernia Wealth Partners LLC purchased a new position in Coca-Cola during the 3rd quarter worth approximately $25,000. Freedom Wealth Alliance LLC purchased a new position in Coca-Cola during the 4th quarter worth approximately $25,000. ZRC Wealth Management LLC grew its stake in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the last quarter. Fortis Capital Advisors LLC purchased a new position in Coca-Cola during the 4th quarter worth approximately $30,000. Finally, KB Financial Partners LLC purchased a new position in Coca-Cola during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.1 %

KO opened at $58.06 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The business has a 50 day simple moving average of $59.97 and a 200-day simple moving average of $58.52. The stock has a market capitalization of $250.31 billion, a P/E ratio of 23.41, a P/E/G ratio of 3.30 and a beta of 0.59. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.99.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.45 EPS. On average, equities analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.34%. Coca-Cola’s payout ratio is currently 78.23%.

Analyst Ratings Changes

A number of research firms have weighed in on KO. Citigroup increased their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Barclays increased their price objective on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. increased their price objective on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.18.

Insider Buying and Selling

In related news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is owned by insiders.

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.