The Coca-Cola Company (NYSE:KO) Shares Purchased by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KOFree Report) by 32.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,796 shares of the company’s stock after acquiring an additional 1,422 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Coca-Cola were worth $342,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. Enterprise Bank & Trust Co boosted its holdings in Coca-Cola by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after purchasing an additional 167 shares during the last quarter. Castleview Partners LLC boosted its holdings in Coca-Cola by 4.4% in the 1st quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock valued at $246,000 after purchasing an additional 167 shares during the last quarter. Elk River Wealth Management LLC boosted its holdings in Coca-Cola by 1.6% in the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after purchasing an additional 170 shares during the last quarter. Somerville Kurt F boosted its holdings in Coca-Cola by 0.8% in the 1st quarter. Somerville Kurt F now owns 21,377 shares of the company’s stock valued at $1,325,000 after purchasing an additional 172 shares during the last quarter. Finally, VitalStone Financial LLC boosted its holdings in Coca-Cola by 46.5% in the 2nd quarter. VitalStone Financial LLC now owns 545 shares of the company’s stock valued at $34,000 after purchasing an additional 173 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KO has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, Citigroup upped their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

View Our Latest Analysis on Coca-Cola

Coca-Cola Price Performance

Shares of KO opened at $61.18 on Friday. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.99. The firm’s 50 day moving average price is $60.10 and its 200 day moving average price is $58.36. The company has a market cap of $263.76 billion, a P/E ratio of 24.67, a PEG ratio of 3.47 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KOGet Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the prior year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be given a $0.485 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.17%. Coca-Cola’s dividend payout ratio is currently 78.23%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 375,407 shares of company stock valued at $22,795,742. Insiders own 0.97% of the company’s stock.

Coca-Cola Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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