Avidian Wealth Solutions LLC Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Avidian Wealth Solutions LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,241 shares of the company’s stock after selling 1,569 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Coca-Cola were worth $1,723,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ZRC Wealth Management LLC lifted 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 valued at $26,000 after purchasing an additional 320 shares during the period. Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $38,000. Avion Wealth boosted its stake in shares of Coca-Cola by 64.8% in the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after buying an additional 322 shares in the last quarter. Finally, Clear Investment Research LLC raised its position in Coca-Cola by 36.1% in the third quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after acquiring an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several research analyst reports. Evercore ISI boosted their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup boosted their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays raised their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.27.

Coca-Cola Trading Up 0.3 %

Shares of NYSE KO traded up $0.18 during midday trading on Friday, reaching $62.17. 11,628,675 shares of the stock were exchanged, compared to its average volume of 13,782,690. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $268.03 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.55 and a beta of 0.57. The stock has a 50 day moving average price of $60.24 and a 200-day moving average price of $59.19. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.25.

Coca-Cola (NYSE:KO) last issued its quarterly 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 for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Activity

In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders sold a total of 323,107 shares of company stock valued at $19,657,742 in the last 90 days. 0.97% of the stock is currently owned by insiders.

Coca-Cola Company 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.