NewEdge Wealth LLC Has $12.63 Million Stake in The Coca-Cola Company (NYSE:KO)

NewEdge Wealth LLC increased its position in The Coca-Cola Company (NYSE:KOFree Report) by 9.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 214,315 shares of the company’s stock after purchasing an additional 17,710 shares during the period. NewEdge Wealth LLC’s holdings in Coca-Cola were worth $12,630,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in Coca-Cola in the 1st quarter worth approximately $77,000. Merit Financial Group LLC lifted its position in Coca-Cola by 16.7% in the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after buying an additional 1,754 shares in the last quarter. NewEdge Advisors LLC lifted its position in Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock worth $9,255,000 after buying an additional 43,680 shares in the last quarter. Ergoteles LLC lifted its position in Coca-Cola by 385.3% in the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock worth $1,180,000 after buying an additional 15,110 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Coca-Cola by 11.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock worth $176,115,000 after buying an additional 301,804 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO traded down $0.77 during midday trading on Friday, reaching $58.28. The stock had a trading volume of 12,247,027 shares, compared to its average volume of 13,872,773. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.99. The firm’s fifty day simple moving average is $60.09 and its 200-day simple moving average is $58.45. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market capitalization of $251.26 billion, a P/E ratio of 23.72, a PEG ratio of 3.34 and a beta of 0.59.

Coca-Cola (NYSE:KOGet Free Report) last posted its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period last year, the business posted $0.45 EPS. Coca-Cola’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.33%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the sale, the executive vice president now owns 143,383 shares in the company, valued at $8,602,980. The disclosure for this sale can be found here. Insiders have sold 375,407 shares of company stock worth $22,795,742 in the last ninety days. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Get Our Latest Research Report on Coca-Cola

Coca-Cola Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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