Kerntke Otto McGlone Wealth Management Group Raises Holdings in The Coca-Cola Company (NYSE:KO)

Kerntke Otto McGlone Wealth Management Group grew its stake in The Coca-Cola Company (NYSE:KO) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,950 shares of the company’s stock after buying an additional 222 shares during the quarter. Kerntke Otto McGlone Wealth Management Group’s holdings in Coca-Cola were worth $351,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ZRC Wealth Management LLC increased its holdings in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in Coca-Cola in the fourth quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in Coca-Cola during the fourth quarter worth approximately $38,000. Avion Wealth lifted its position in shares of Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after buying an additional 322 shares during the last quarter. Finally, Clear Investment Research LLC lifted its position in shares of Coca-Cola by 36.1% during the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after buying an additional 246 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Coca-Cola stock traded up $0.18 during trading hours on Friday, reaching $62.17. 11,628,675 shares of the stock were exchanged, compared to its average volume of 13,782,690. The stock has a market cap of $268.03 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.57. The firm’s 50 day moving average is $60.24 and its 200 day moving average is $59.12. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 1.04. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.25.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. Analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Analysts Set New Price Targets

Several equities research analysts recently commented on KO shares. UBS Group lifted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup lifted their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays raised their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Evercore ISI boosted their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.27.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is owned by corporate insiders.

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.