The Coca-Cola Company (NYSE:KO) Shares Bought by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC grew its position in The Coca-Cola Company (NYSE:KO) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,831 shares of the company’s stock after acquiring an additional 944 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Coca-Cola were worth $1,345,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in shares of Coca-Cola in the first quarter valued at about $77,000. Merit Financial Group LLC boosted its stake in shares of Coca-Cola by 16.7% during the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after acquiring an additional 1,754 shares in the last quarter. NewEdge Advisors LLC increased its stake in Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after purchasing an additional 43,680 shares in the last quarter. Ergoteles LLC boosted its position in Coca-Cola by 385.3% during the first quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock worth $1,180,000 after purchasing an additional 15,110 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Coca-Cola by 11.9% in the first quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after purchasing an additional 301,804 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock worth $22,795,742 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock traded down $0.08 during trading on Tuesday, hitting $58.06. 4,938,337 shares of the stock were exchanged, compared to its average volume of 13,724,262. The stock’s fifty day moving average is $60.01 and its 200 day moving average is $58.51. The stock has a market cap of $250.31 billion, a PE ratio of 23.45, a P/E/G ratio of 3.31 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.99.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 EPS. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.485 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.34%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is 78.23%.

Analysts Set New Price Targets

KO has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Citigroup raised their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays increased their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $67.18.

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.