EverSource Wealth Advisors LLC Boosts Stake in The Coca-Cola Company (NYSE:KO)

EverSource Wealth Advisors LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,697 shares of the company’s stock after acquiring an additional 925 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Coca-Cola were worth $630,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Patrick M Sweeney & Associates Inc. acquired a new stake in Coca-Cola in the 4th quarter valued at approximately $410,000. Beacon Pointe Advisors LLC lifted its stake in Coca-Cola by 24.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after purchasing an additional 89,139 shares during the last quarter. Insigneo Advisory Services LLC boosted its holdings in Coca-Cola by 12.2% during the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after buying an additional 4,527 shares in the last quarter. Birchcreek Wealth Management LLC grew its position in Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after buying an additional 507 shares during the last quarter. Finally, Wahed Invest LLC lifted its position in shares of Coca-Cola by 10.3% during the 3rd quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after acquiring an additional 5,707 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Down 0.6 %

NYSE:KO traded down $0.35 during trading hours on Thursday, hitting $62.65. 2,111,110 shares of the stock were exchanged, compared to its average volume of 13,356,438. The company’s 50 day moving average is $61.00 and its two-hundred day moving average is $59.83. The company has a market capitalization of $269.89 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 3.57 and a beta of 0.57. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $63.76. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the business earned $0.68 EPS. Coca-Cola’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. UBS Group raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Barclays increased 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, May 2nd. Evercore ISI upped their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, Argus lifted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.58.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated 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 Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 199,389 shares of company stock worth $12,322,179. 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.