Ropes Wealth Advisors LLC Cuts Position in The Coca-Cola Company (NYSE:KO)

Ropes Wealth Advisors LLC reduced its stake in The Coca-Cola Company (NYSE:KO – Get Rating) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,615 shares of the company’s stock after selling 6,926 shares during the period. Ropes Wealth Advisors LLC’s holdings in Coca-Cola were worth $2,819,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in KO. Fortis Advisors LLC acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $25,000. Curi Wealth Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $25,000. Shore Point Advisors LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $28,000. Horan Securities Inc. acquired a new stake in shares of Coca-Cola during the fourth quarter worth $32,000. Finally, Leverty Financial Group LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $35,000. Institutional investors own 68.51% of the company’s stock.

A number of brokerages have recently weighed in on KO. Truist Financial raised their price target on Coca-Cola from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, April 26th. HSBC raised their price target on Coca-Cola from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, April 26th. Evercore ISI lifted their price objective on Coca-Cola from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, February 15th. Citigroup lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 26th. Finally, StockNews.com upgraded Coca-Cola from a “hold” rating to a “buy” rating in a research report on Tuesday, April 26th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $67.29.

In other Coca-Cola news, SVP Jennifer K. Mann sold 11,337 shares of Coca-Cola stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $62.90, for a total value of $713,097.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Henrique Braun sold 9,436 shares of Coca-Cola stock in a transaction on Friday, March 18th. The shares were sold at an average price of $59.91, for a total value of $565,310.76. The disclosure for this sale can be found here. Insiders have sold a total of 667,137 shares of company stock worth $42,579,677 in the last three months. 0.98% of the stock is owned by insiders.

KO stock traded up $1.21 during mid-day trading on Friday, hitting $65.72. The stock had a trading volume of 16,166,956 shares, compared to its average volume of 17,885,330. The company has a current ratio of 1.18, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $284.90 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 3.74 and a beta of 0.58. The company has a fifty day moving average of $62.87 and a 200 day moving average of $60.13. The Coca-Cola Company has a 1-year low of $52.28 and a 1-year high of $67.20.

Coca-Cola (NYSE:KO – Get Rating) last released its earnings results on Monday, April 25th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $10.50 billion for the quarter, compared to analyst estimates of $9.83 billion. Coca-Cola had a return on equity of 41.84% and a net margin of 25.69%. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.47 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Tuesday, June 14th. Coca-Cola’s payout ratio is presently 73.95%.

Coca-Cola Company Profile (Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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