Essential Planning LLC. Invests $10.23 Million in The Coca-Cola Company (NYSE:KO)

Essential Planning LLC. acquired a new position in shares of The Coca-Cola Company (NYSE:KO) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 156,515 shares of the company’s stock, valued at approximately $10,232,000.

Other large investors have also modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth $31,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the third quarter worth $43,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth $37,000. MilWealth Group LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth $40,000. Finally, Hara Capital LLC increased its position in shares of Coca-Cola by 43.7% during the fourth quarter. Hara Capital LLC now owns 691 shares of the company’s stock worth $43,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $71.00 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 company has a market capitalization of $305.37 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The firm has a 50-day simple moving average of $65.72 and a 200-day simple moving average of $66.58. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Coca-Cola’s dividend payout ratio is 82.59%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KO shares. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Insider Transactions at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,146 shares of company stock worth $20,456,524. Company insiders own 0.97% of the company’s stock.

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.