Prestige Wealth Management Group LLC Sells 9,333 Shares of The Coca-Cola Company (NYSE:KO)

Prestige Wealth Management Group LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 47.2% during the 4th quarter, Holdings Channel reports. The fund owned 10,447 shares of the company’s stock after selling 9,333 shares during the period. Prestige Wealth Management Group LLC’s holdings in Coca-Cola were worth $616,000 as of its most recent SEC filing.

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

Coca-Cola Stock Performance

KO traded down $0.29 during trading on Friday, hitting $63.03. 11,539,022 shares of the company traded hands, compared to its average volume of 13,018,880. The firm has a market cap of $271.53 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a one year low of $51.55 and a one year high of $63.76. The stock’s fifty day moving average is $60.87 and its 200 day moving average is $59.70.

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 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 company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the business posted $0.68 EPS. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.08%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on KO shares. JPMorgan Chase & Co. raised their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. UBS Group raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Evercore ISI upped their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, Barclays increased 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. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.27.

Insider Transactions at Coca-Cola

In related news, EVP Henrique Braun sold 57,298 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total value of $3,614,357.84. Following the sale, the executive vice president now directly owns 52,466 shares in the company, valued at approximately $3,309,555.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Henrique Braun sold 57,298 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total value of $3,614,357.84. Following the sale, the executive vice president now owns 52,466 shares in the company, valued at $3,309,555.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 446,577 shares of company stock worth $27,385,816. 0.97% of the stock is owned by company insiders.

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.