ProVise Management Group LLC Has $5.41 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

ProVise Management Group LLC decreased its stake in The Coca-Cola Company (NYSE:KO) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,815 shares of the company’s stock after selling 6,991 shares during the period. ProVise Management Group LLC’s holdings in Coca-Cola were worth $5,405,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $37,000. MilWealth Group LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $40,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the third quarter valued at about $43,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 1.1 %

KO stock opened at $69.34 on Wednesday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The stock’s 50 day moving average is $66.54 and its 200-day moving average is $66.51. The firm has a market capitalization of $298.21 billion, a PE ratio of 28.07, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Sell-side analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. UBS Group upped their target price on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Finally, Evercore ISI upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.24.

Insider Activity

In related news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

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.