The Coca-Cola Company (NYSE:KO) Shares Purchased by Wallace Advisory Group LLC

Wallace Advisory Group LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,513 shares of the company’s stock after acquiring an additional 172 shares during the period. Wallace Advisory Group LLC’s holdings in Coca-Cola were worth $468,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter worth about $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter worth about $36,000. MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola in the 3rd quarter worth about $43,000. Finally, ORG Wealth Partners LLC acquired a new stake in Coca-Cola in the 3rd quarter worth about $58,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Finally, Barclays reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.60.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $61.68 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a fifty day moving average price of $62.84 and a 200 day moving average price of $66.48. The company has a market cap of $265.70 billion, a P/E ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts predict 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 declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.15%. Coca-Cola’s dividend payout ratio is currently 80.17%.

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.