Prestige Wealth Management Group LLC Buys 704 Shares of The Coca-Cola Company (NYSE:KO)

Prestige Wealth Management Group LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,517 shares of the company’s stock after purchasing an additional 704 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Coca-Cola were worth $717,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KO. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $27,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola in the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the 4th quarter valued at $37,000. MilWealth Group LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $40,000. Finally, Hara Capital LLC increased its holdings in shares of Coca-Cola by 43.7% in the fourth quarter. Hara Capital LLC now owns 691 shares of the company’s stock worth $43,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $68.97 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The business has a 50 day moving average price of $67.15 and a 200-day moving average price of $66.42. The firm has a market cap of $296.81 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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%. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.96%. Coca-Cola’s dividend payout ratio is presently 82.59%.

Analysts Set New Price Targets

KO has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Insiders Place Their Bets

In related news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by company insiders.

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.