Modera Wealth Management LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Modera Wealth Management LLC lowered its holdings in The Coca-Cola Company (NYSE:KO) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 185,136 shares of the company’s stock after selling 317 shares during the quarter. Modera Wealth Management LLC’s holdings in Coca-Cola were worth $11,527,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Hara Capital LLC purchased a new position in shares of Coca-Cola in the 3rd quarter valued at about $35,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola in the fourth quarter worth approximately $37,000. MilWealth Group LLC acquired a new position in Coca-Cola during the 4th quarter worth approximately $40,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $43,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 232,646 shares of company stock worth $16,515,469 in the last quarter. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on KO shares. UBS Group boosted their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Evercore ISI upped their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Piper Sandler raised 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Stock Up 0.5 %

Coca-Cola stock opened at $71.20 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock has a 50 day moving average of $64.53 and a two-hundred day moving average of $66.51. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock has a market capitalization 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 announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, 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 announced 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 a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

About Coca-Cola

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.