Prentice Wealth Management LLC Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Prentice Wealth Management LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 6.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 9,029 shares of the company’s stock after purchasing an additional 570 shares during the period. Prentice Wealth Management LLC’s holdings in Coca-Cola were worth $552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Patrick M Sweeney & Associates Inc. bought a new position in Coca-Cola during the fourth quarter valued at approximately $410,000. Beacon Pointe Advisors LLC increased its holdings in Coca-Cola by 24.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after buying an additional 89,139 shares in the last quarter. Insigneo Advisory Services LLC grew its stake in shares of Coca-Cola by 12.2% during the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after purchasing an additional 4,527 shares during the period. Birchcreek Wealth Management LLC lifted its position in shares of 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 buying an additional 507 shares in 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 buying an additional 5,707 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In related news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on KO. Evercore ISI boosted their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. UBS Group boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Argus boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. BNP Paribas assumed coverage on Coca-Cola in a report on Monday. They issued an “outperform” rating and a $72.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $68.83.

Coca-Cola Stock Up 0.2 %

NYSE:KO traded up $0.12 during midday trading on Wednesday, reaching $63.96. The company had a trading volume of 4,987,736 shares, compared to its average volume of 13,091,660. The firm has a market capitalization of $275.54 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 3.61 and a beta of 0.59. The stock’s fifty day simple moving average is $62.44 and its 200-day simple moving average is $60.69. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.36. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last announced 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 return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the business earned $0.68 EPS. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s payout ratio is currently 77.60%.

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.