Wedmont Private Capital Has $3.13 Million Stake in The Coca-Cola Company (NYSE:KO)

Wedmont Private Capital grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,263 shares of the company’s stock after acquiring an additional 6,706 shares during the period. Wedmont Private Capital’s holdings in Coca-Cola were worth $3,131,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Apella Capital LLC lifted its stake in Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares in the last quarter. Investment Advisory Group LLC grew its position in Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after acquiring an additional 146 shares in the last quarter. CCG Wealth Management LLC raised its position in Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after purchasing an additional 149 shares during the period. Investment Partners Asset Management Inc. lifted its stake in shares of Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the last quarter. Finally, Chapin Davis Inc. boosted its holdings in shares of Coca-Cola by 1.0% in the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after purchasing an additional 153 shares during the period. 70.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Up 1.0 %

Coca-Cola stock traded up $0.62 during mid-day trading on Monday, reaching $61.69. 8,631,330 shares of the company were exchanged, compared to its average volume of 14,883,409. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The business has a fifty day moving average of $62.91 and a 200 day moving average of $66.50. The firm has a market cap of $265.75 billion, a P/E ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share. Research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KO shares. Piper Sandler assumed coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.60.

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.