Allworth Financial LP Purchases 6,058 Shares of The Coca-Cola Company (NYSE:KO)

Allworth Financial LP increased its position in shares of The Coca-Cola Company (NYSE:KO) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,521 shares of the company’s stock after buying an additional 6,058 shares during the quarter. Allworth Financial LP’s holdings in Coca-Cola were worth $3,684,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KO. Fulton Bank N.A. grew its stake in Coca-Cola by 2.2% in the fourth quarter. Fulton Bank N.A. now owns 78,650 shares of the company’s stock valued at $4,635,000 after purchasing an additional 1,659 shares in the last quarter. Sowell Financial Services LLC grew its stake in Coca-Cola by 4.6% in the fourth quarter. Sowell Financial Services LLC now owns 155,903 shares of the company’s stock valued at $9,187,000 after purchasing an additional 6,900 shares in the last quarter. Jacobsen Capital Management bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $257,000. Park Place Capital Corp boosted its stake in shares of Coca-Cola by 5.6% during the 4th quarter. Park Place Capital Corp now owns 25,767 shares of the company’s stock worth $1,518,000 after acquiring an additional 1,357 shares during the period. Finally, Financial Security Advisor Inc. boosted its stake in shares of Coca-Cola by 5.5% during the 4th quarter. Financial Security Advisor Inc. now owns 24,045 shares of the company’s stock worth $1,417,000 after acquiring an additional 1,256 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the sale, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 375,407 shares of company stock worth $22,795,742. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Barclays lifted their price target on Coca-Cola from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Finally, Citigroup lifted their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Coca-Cola Price Performance

Shares of NYSE KO opened at $59.51 on Friday. The stock has a market capitalization of $256.56 billion, a PE ratio of 24.00, a P/E/G ratio of 3.37 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The business has a fifty day moving average price of $60.16 and a two-hundred day moving average price of $58.42. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.99.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 EPS. As a group, equities analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.485 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.26%. Coca-Cola’s payout ratio is currently 78.23%.

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.