Avior Wealth Management LLC Sells 830 Shares of The Coca-Cola Company (NYSE:KO)

Avior Wealth Management LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,996 shares of the company’s stock after selling 830 shares during the quarter. Avior Wealth Management LLC’s holdings in Coca-Cola were worth $1,414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Allen Capital Group LLC boosted its position in shares of Coca-Cola by 12.2% in the 4th quarter. Allen Capital Group LLC now owns 4,289 shares of the company’s stock worth $253,000 after purchasing an additional 466 shares in the last quarter. Wealth Alliance boosted its position in shares of Coca-Cola by 13.5% in the 4th quarter. Wealth Alliance now owns 13,405 shares of the company’s stock worth $790,000 after purchasing an additional 1,590 shares in the last quarter. Octavia Wealth Advisors LLC raised its stake in Coca-Cola by 4.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 22,831 shares of the company’s stock worth $1,345,000 after acquiring an additional 944 shares during the last quarter. Marietta Wealth Management LLC purchased a new position in Coca-Cola in the 4th quarter worth $346,000. Finally, United Asset Strategies Inc. raised its stake in Coca-Cola by 4.6% in the 4th quarter. United Asset Strategies Inc. now owns 33,697 shares of the company’s stock worth $1,986,000 after acquiring an additional 1,475 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KO shares. Barclays lifted their price objective on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Citigroup lifted their price target 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, JPMorgan Chase & Co. lifted their price target on Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.18.

Coca-Cola Trading Down 0.1 %

KO stock opened at $58.06 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99. The stock has a market cap of $250.31 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 3.30 and a beta of 0.59. The business’s 50-day moving average is $59.97 and its 200 day moving average is $58.52.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. Coca-Cola’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s payout ratio is currently 78.23%.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the business’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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Beatriz R. Perez sold 52,300 shares of the company’s 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 transaction, the executive vice president now directly owns 143,383 shares in the company, valued at $8,602,980. 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 company’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 disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock worth $22,795,742 in the last ninety days. Insiders own 0.97% of the company’s stock.

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.