Heritage Wealth Management Inc. Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Heritage Wealth Management Inc. lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 1.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 29,392 shares of the company’s stock after selling 297 shares during the period. Heritage Wealth Management Inc.’s holdings in Coca-Cola were worth $1,830,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of KO. Hara Capital LLC purchased a new position in Coca-Cola during the third quarter valued at approximately $35,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola during the fourth quarter valued at approximately $37,000. MilWealth Group LLC bought a new stake in Coca-Cola during the fourth quarter valued at approximately $40,000. MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the third quarter valued at approximately $43,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Coca-Cola during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Piper Sandler boosted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Stock Up 0.5 %

Shares of NYSE KO opened at $71.20 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The firm’s fifty day moving average is $64.53 and its 200 day moving average is $66.51. The company has a market cap of $306.22 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 232,646 shares of company stock valued at $16,515,469. 0.97% of the stock is currently owned by company 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.