Marks Group Wealth Management Inc Sells 4,164 Shares of The Coca-Cola Company (NYSE:KO)

Marks Group Wealth Management Inc lessened its position in The Coca-Cola Company (NYSE:KO) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,866 shares of the company’s stock after selling 4,164 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Coca-Cola were worth $2,055,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. ZRC Wealth Management LLC boosted its stake in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Criterion Capital Advisors LLC bought a new stake in Coca-Cola during the 4th quarter valued at about $30,000. Financial Connections Group Inc. bought a new stake in Coca-Cola during the 4th quarter valued at about $38,000. Avion Wealth lifted its holdings in Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after buying an additional 322 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Coca-Cola during the 4th quarter valued at about $53,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE:KO traded up $0.05 during trading hours on Tuesday, hitting $60.60. 8,187,329 shares of the company were exchanged, compared to its average volume of 13,824,922. The stock has a market capitalization of $261.26 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.44 and a beta of 0.59. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.99. 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 company’s 50 day moving average price is $59.95 and its 200-day moving average price is $58.67.

Coca-Cola (NYSE:KO) last released 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. The company had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. Coca-Cola’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, research analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.485 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Activity

In other news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The disclosure for this sale can be found here. Insiders have sold 375,407 shares of company stock valued at $22,795,742 in the last ninety days. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. JPMorgan Chase & Co. decreased their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday. Finally, Barclays lifted their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.09.

Coca-Cola Company 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.