The Coca-Cola Company (NYSE:KO) Shares Acquired by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,191 shares of the company’s stock after purchasing an additional 1,521 shares during the period. Coca-Cola accounts for about 1.0% of Oak Harbor Wealth Partners LLC’s investment portfolio, making the stock its 29th largest holding. Oak Harbor Wealth Partners LLC’s holdings in Coca-Cola were worth $3,017,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley lifted its position in Coca-Cola by 2.5% during the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after acquiring an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Coca-Cola by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock valued at $3,501,789,000 after purchasing an additional 2,464,618 shares in the last quarter. Norges Bank bought a new stake in Coca-Cola in the fourth quarter valued at approximately $2,808,056,000. Northern Trust Corp increased its position in shares of Coca-Cola by 4.8% during the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after acquiring an additional 2,040,664 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Coca-Cola by 8.2% during the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after acquiring an additional 1,963,963 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 1.0 %

Shares of Coca-Cola stock traded down $0.65 during trading hours on Thursday, hitting $62.35. The company’s stock had a trading volume of 4,117,015 shares, compared to its average volume of 13,376,626. The firm has a fifty day moving average of $61.00 and a 200-day moving average of $59.83. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $63.76. The stock has a market cap of $268.60 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 3.57 and a beta of 0.57.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.11%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity

In other news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,389 shares of company stock worth $12,322,179. 0.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent analyst reports. UBS Group increased their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Barclays lifted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Argus lifted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI boosted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.58.

About Coca-Cola

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.