Adams Wealth Management Buys 2,429 Shares of The Coca-Cola Company (NYSE:KO)

Adams Wealth Management lifted its stake in The Coca-Cola Company (NYSE:KO) by 25.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,072 shares of the company’s stock after buying an additional 2,429 shares during the period. Adams Wealth Management’s holdings in Coca-Cola were worth $751,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Rice Partnership LLC boosted its position in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after acquiring an additional 6,793 shares in the last quarter. Fiduciary Alliance LLC boosted its holdings in Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Clark & Stuart Inc acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $1,582,000. Wilmington Savings Fund Society FSB grew its stake in shares of Coca-Cola by 222.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock valued at $13,814,000 after purchasing an additional 132,701 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Coca-Cola by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company’s stock worth $55,610,000 after buying an additional 8,810 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KO. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, February 13th. Evercore ISI upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, UBS Group lifted their target price on shares of Coca-Cola from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.59.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 313,423 shares of company stock worth $22,263,071. 0.90% of the stock is owned by insiders.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $72.99 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 Coca-Cola Company has a 1-year low of $58.54 and a 1-year high of $73.95. The stock has a market capitalization of $314.13 billion, a P/E ratio of 29.55, a P/E/G ratio of 3.79 and a beta of 0.45. The business has a 50-day moving average price of $70.28 and a two-hundred day moving average price of $66.41.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Equities analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.51 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Coca-Cola Company 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.