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

Darwin Wealth Management LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,462 shares of the company’s stock after selling 1,082 shares during the quarter. Darwin Wealth Management LLC’s holdings in Coca-Cola were worth $1,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KO. ZRC Wealth Management LLC boosted its holdings in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the period. Criterion Capital Advisors LLC bought a new stake in Coca-Cola during the 4th quarter valued at approximately $30,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Coca-Cola in the 4th quarter worth approximately $32,000. Financial Connections Group Inc. bought a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $38,000. Finally, Avion Wealth lifted its holdings in shares of Coca-Cola by 64.8% in the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after buying an additional 322 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KO has been the subject of a number of recent research reports. 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 report on Thursday, May 2nd. UBS Group raised their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Citigroup raised their price objective 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, Evercore ISI upped their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.27.

Coca-Cola Trading Up 0.6 %

Shares of Coca-Cola stock traded up $0.38 on Friday, reaching $63.26. The company had a trading volume of 2,963,345 shares, compared to its average volume of 13,706,303. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The firm has a market cap of $272.52 billion, a PE ratio of 25.29, a PEG ratio of 3.53 and a beta of 0.57. The firm’s 50 day moving average price is $60.43 and its two-hundred day moving average price is $59.35. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.07%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity

In other news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction 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 $13,594,097.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction 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 transaction, 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. Insiders sold 380,405 shares of company stock worth $23,209,645 in the last 90 days. 0.97% of the stock is currently owned by corporate 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.