The Coca-Cola Company (NYSE:KO) Position Lessened by Wambolt & Associates LLC

Wambolt & Associates LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 25.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,556 shares of the company’s stock after selling 1,231 shares during the period. Wambolt & Associates LLC’s holdings in Coca-Cola were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in KO. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola during the fourth quarter worth about $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola in the 4th quarter worth about $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $37,000. MilWealth Group LLC bought a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $40,000. Finally, Hara Capital LLC boosted 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 buying an additional 210 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on KO. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Finally, UBS Group boosted their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Buying and Selling

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction that occurred on 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 represents a 12.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on 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. In the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO stock opened at $68.85 on Wednesday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The firm has a 50-day moving average of $67.28 and a two-hundred day moving average of $66.40. The firm has a market capitalization of $296.30 billion, a PE ratio of 27.87, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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, analysts forecast 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. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.96%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Coca-Cola 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.