Spire Wealth Management Purchases 11,402 Shares of The Coca-Cola Company (NYSE:KO)

Spire Wealth Management increased its position in shares of The Coca-Cola Company (NYSE:KO) by 9.0% during the 4th quarter, Holdings Channel reports. The firm owned 137,523 shares of the company’s stock after purchasing an additional 11,402 shares during the quarter. Spire Wealth Management’s holdings in Coca-Cola were worth $8,228,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KO. ZRC Wealth Management LLC grew its position in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the period. Criterion Capital Advisors LLC purchased a new stake in Coca-Cola in the fourth quarter worth $30,000. Financial Connections Group Inc. bought a new stake in shares of Coca-Cola in the fourth quarter valued at $38,000. Avion Wealth lifted its position in shares of Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after buying an additional 322 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Coca-Cola in the 4th quarter worth about $53,000. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on KO. Citigroup increased their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. UBS Group boosted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Evercore ISI increased their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Barclays lifted their target price on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.27.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.40 during mid-day trading on Tuesday, reaching $62.75. 792,662 shares of the company were exchanged, compared to its average volume of 13,817,255. The stock has a market capitalization of $270.32 billion, a PE ratio of 24.94, a PEG ratio of 3.53 and a beta of 0.57. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.25. The company’s 50 day moving average price is $60.28 and its 200 day moving average price is $59.25.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. Sell-side analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is currently 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.