Thrive Wealth Management LLC Has $994,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Thrive Wealth Management LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 14.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,250 shares of the company’s stock after purchasing an additional 2,094 shares during the quarter. Thrive Wealth Management LLC’s holdings in Coca-Cola were worth $994,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. ZRC Wealth Management LLC boosted its stake in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC bought a new stake in Coca-Cola in the 4th quarter valued at $26,000. Private Wealth Management Group LLC bought a new stake in Coca-Cola in the 4th quarter valued at $27,000. Criterion Capital Advisors LLC bought a new stake in Coca-Cola in the 4th quarter valued at $30,000. Finally, Frazier Financial Advisors LLC bought a new stake in Coca-Cola in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.3 %

NYSE KO traded down $0.22 during trading hours on Friday, hitting $63.69. 724,464 shares of the company’s stock were exchanged, compared to its average volume of 12,991,626. The stock has a 50-day simple moving average of $62.55 and a 200 day simple moving average of $60.71. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.36. The firm has a market cap of $274.37 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 3.62 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola’s payout ratio is currently 77.60%.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,665 shares of company stock worth $13,995,465. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday. They set an “outperform” rating and a $72.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barclays upped their price objective on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.83.

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.