HHM Wealth Advisors LLC Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

HHM Wealth Advisors LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 17.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,183 shares of the company’s stock after purchasing an additional 940 shares during the quarter. HHM Wealth Advisors LLC’s holdings in Coca-Cola were worth $364,000 at the end of the most recent reporting period.

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

Coca-Cola Price Performance

KO remained flat at $61.74 during midday trading on Friday. The company’s stock had a trading volume of 10,994,262 shares, compared to its average volume of 12,842,353. The firm has a 50 day moving average price of $60.12 and a two-hundred day moving average price of $58.85. The company has a market cap of $266.17 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.69.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. Coca-Cola’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 EPS. Sell-side analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio is currently 78.23%.

Wall Street Analyst Weigh In

KO has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Citigroup boosted their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays boosted their target price on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.22.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value 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 approximately $8,602,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 375,407 shares of company stock valued at $22,795,742. Corporate insiders own 0.97% of the company’s stock.

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.