ProVise Management Group LLC Purchases 1,379 Shares of The Coca-Cola Company (NYSE:KO)

ProVise Management Group LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 113,106 shares of the company’s stock after purchasing an additional 1,379 shares during the quarter. ProVise Management Group LLC’s holdings in Coca-Cola were worth $6,665,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tidemark LLC bought a new position in shares of Coca-Cola in the fourth quarter worth $26,000. Private Wealth Management Group LLC purchased a new position in Coca-Cola in the fourth quarter worth $27,000. ZRC Wealth Management LLC grew its position in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in Coca-Cola in the fourth quarter worth $30,000. Finally, Frazier Financial Advisors LLC purchased a new position in Coca-Cola in the fourth quarter worth $31,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.1 %

Shares of Coca-Cola stock traded down $0.09 during trading on Friday, reaching $62.00. 8,199,973 shares of the stock were exchanged, compared to its average volume of 13,383,809. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average is $61.03 and its 200 day moving average is $59.84. The firm has a market cap of $267.09 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $63.76.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, equities research analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.13%. Coca-Cola’s payout ratio is 77.60%.

Insider Activity

In related news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Henrique Braun sold 57,298 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total value of $3,614,357.84. Following the completion of the sale, the executive vice president now directly owns 52,466 shares in the company, valued at $3,309,555.28. The disclosure for this sale can be found here. Insiders sold a total of 199,389 shares of company stock worth $12,322,179 in the last quarter. 0.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Argus upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays upped their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. UBS Group upped their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI upped their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.58.

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.