Prestige Wealth Management Group LLC Purchases 810 Shares of The Coca-Cola Company (NYSE:KO)

Prestige Wealth Management Group LLC boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,419 shares of the company’s stock after acquiring an additional 810 shares during the period. Prestige Wealth Management Group LLC’s holdings in Coca-Cola were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. raised its holdings in shares of Coca-Cola by 5.6% during the fourth quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock worth $941,000 after acquiring an additional 841 shares during the period. Accretive Wealth Partners LLC increased its holdings in Coca-Cola by 1.4% during the 4th quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock worth $1,523,000 after purchasing an additional 351 shares in the last quarter. Aveo Capital Partners LLC raised its stake in shares of Coca-Cola by 13.9% in the 4th quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock valued at $572,000 after purchasing an additional 1,182 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of Coca-Cola by 72.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock worth $1,034,000 after buying an additional 7,521 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of Coca-Cola by 453.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 38,233 shares of the company’s stock worth $2,253,000 after buying an additional 31,319 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KO. Wells Fargo & Company raised their target price on shares of Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Bank of America raised their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,074,910 shares of company stock valued at $585,972,318. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO traded down $0.03 during midday trading on Friday, reaching $71.14. The company’s stock had a trading volume of 17,485,707 shares, compared to its average volume of 13,186,163. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market cap of $306.47 billion, a P/E ratio of 28.46, a P/E/G ratio of 4.05 and a beta of 0.60. The business’s 50 day moving average price is $67.48 and its two-hundred day moving average price is $63.56. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter last year, the business earned $0.78 earnings per share. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. On average, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.73%. Coca-Cola’s payout ratio is 77.60%.

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.