Wealthspire Advisors LLC Sells 8,389 Shares of The Coca-Cola Company (NYSE:KO)

Wealthspire Advisors LLC trimmed its position in The Coca-Cola Company (NYSE:KO) by 5.7% in the fourth quarter, Holdings Channel reports. The fund owned 138,300 shares of the company’s stock after selling 8,389 shares during the quarter. Wealthspire Advisors LLC’s holdings in Coca-Cola were worth $8,150,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Enterprise Bank & Trust Co boosted its holdings in shares of Coca-Cola by 3.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after purchasing an additional 167 shares during the period. Elk River Wealth Management LLC lifted its holdings in shares of Coca-Cola by 1.6% in the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after buying an additional 170 shares during the period. KRS Capital Management LLC grew its position in shares of Coca-Cola by 3.8% during the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after buying an additional 170 shares in the last quarter. Wayfinding Financial LLC increased its stake in shares of Coca-Cola by 1.8% during the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after buying an additional 175 shares during the period. Finally, John G Ullman & Associates Inc. raised its holdings in shares of Coca-Cola by 2.2% in the fourth quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock valued at $476,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 247,188 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 380,405 shares of company stock worth $23,209,645. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KO. Barclays raised their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Evercore ISI lifted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Citigroup upped their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. UBS Group lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Two 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 a consensus target price of $68.27.

Coca-Cola Stock Performance

Shares of KO stock traded up $0.04 during trading hours on Thursday, hitting $62.89. The company’s stock had a trading volume of 9,111,184 shares, compared to its average volume of 13,826,171. The stock has a market cap of $270.93 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.25. The company has a 50 day moving average of $60.37 and a 200 day moving average of $59.33. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate 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 net margin of 23.41% and a return on equity of 42.74%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) 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.