Wolff Wiese Magana LLC Has $1.70 Million Position in The Coca-Cola Company (NYSE:KO)

Wolff Wiese Magana LLC boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 27,344 shares of the company’s stock after acquiring an additional 1,002 shares during the period. Wolff Wiese Magana LLC’s holdings in Coca-Cola were worth $1,702,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in Coca-Cola in the second quarter valued at about $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $43,000. Finally, ORG Wealth Partners LLC bought a new position in Coca-Cola during the 3rd quarter worth approximately $58,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

Shares of KO opened at $62.42 on Wednesday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The firm has a market capitalization of $268.89 billion, a PE ratio of 25.79, a PEG ratio of 3.83 and a beta of 0.61. The company’s 50-day moving average is $62.78 and its 200-day moving average is $66.47. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.60.

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.