Pacific Wealth Strategies Group Inc. Grows Position in The Coca-Cola Company (NYSE:KO)

Pacific Wealth Strategies Group Inc. raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 21,528 shares of the company’s stock after purchasing an additional 675 shares during the period. Coca-Cola accounts for about 1.1% of Pacific Wealth Strategies Group Inc.’s portfolio, making the stock its 26th largest position. Pacific Wealth Strategies Group Inc.’s holdings in Coca-Cola were worth $1,317,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of KO. ZRC Wealth Management LLC boosted its position in 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 in the last quarter. Tidemark LLC purchased a new position in Coca-Cola in the fourth quarter valued at about $26,000. Private Wealth Management Group LLC bought a new position in Coca-Cola in the fourth quarter worth about $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola during the first quarter valued at about $28,000. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $30,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays increased their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Argus raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley boosted their target price on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Evercore ISI increased their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.83.

Insider Transactions at Coca-Cola

In related news, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares in the company, valued at approximately $2,129,621.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 822,284 shares of company stock valued at $567,718,040 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Performance

Shares of NYSE:KO traded down $0.79 during midday trading on Monday, reaching $62.97. The company’s stock had a trading volume of 11,233,080 shares, compared to its average volume of 13,012,614. 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 stock has a fifty day moving average of $62.95 and a 200 day moving average of $60.99. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.36. The firm has a market capitalization of $271.27 billion, a PE ratio of 25.19, a P/E/G ratio of 3.60 and a beta of 0.59.

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. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 earnings per share. On average, equities analysts expect that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a $0.485 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.08%. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.