Legacy Financial Advisors Inc. Has $2.03 Million Stake in The Coca-Cola Company (NYSE:KO)

Legacy Financial Advisors Inc. raised its position in shares of The Coca-Cola Company (NYSE:KO) by 14.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,459 shares of the company’s stock after acquiring an additional 4,409 shares during the period. Legacy Financial Advisors Inc.’s holdings in Coca-Cola were worth $2,031,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KO. Sapient Capital LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $18,879,000. W Advisors LLC increased its holdings in shares of Coca-Cola by 2.1% in the fourth quarter. W Advisors LLC now owns 21,578 shares of the company’s stock valued at $1,272,000 after purchasing an additional 447 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Coca-Cola by 29.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 174,060 shares of the company’s stock valued at $10,257,000 after purchasing an additional 39,613 shares in the last quarter. Power Wealth Management LLC acquired a new stake in Coca-Cola during the 4th quarter worth $346,000. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in Coca-Cola by 6.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 181,275 shares of the company’s stock worth $10,683,000 after acquiring an additional 11,498 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI lifted their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group lifted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup lifted their price target on shares of 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 lifted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO James Quincey sold 247,188 shares of the business’s 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 transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 323,107 shares of company stock worth $19,657,742. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.3 %

KO traded up $0.18 during trading on Friday, hitting $62.17. The company had a trading volume of 11,628,675 shares, compared to its average volume of 13,782,690. The company has a market capitalization of $268.03 billion, a PE ratio of 24.87, a PEG ratio of 3.55 and a beta of 0.57. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.25. The firm’s 50-day moving average price is $60.24 and its 200 day moving average price is $59.12. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the previous year, the firm posted $0.68 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

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 paid a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.12%. Coca-Cola’s payout ratio is currently 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.