The Coca-Cola Company (NYSE:KO) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,433 shares of the company’s stock after acquiring an additional 264 shares during the quarter. Providence Capital Advisors LLC’s holdings in Coca-Cola were worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of KO. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola during the fourth quarter worth $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the 4th quarter worth $31,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola in the 4th quarter valued at about $37,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola during the fourth quarter valued at about $38,000. Finally, MilWealth Group LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 90 days, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 1.1 %

KO opened at $70.80 on Friday. 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 company has a market capitalization of $304.70 billion, a PE ratio of 28.66, a P/E/G ratio of 3.79 and a beta of 0.57. The stock’s fifty day moving average is $67.62 and its 200-day moving average is $66.46. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly 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 net margin of 22.59% and a return on equity of 45.37%. On average, equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal 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 $0.51 dividend. This is a positive change 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 yield of 2.88%. Coca-Cola’s payout ratio is 82.59%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KO. Evercore ISI raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. 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 research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler increased their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.24.

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.