Waterfront Wealth Inc. Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Waterfront Wealth Inc. raised its holdings in The Coca-Cola Company (NYSE:KO) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,450 shares of the company’s stock after purchasing an additional 365 shares during the period. Waterfront Wealth Inc.’s holdings in Coca-Cola were worth $1,028,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hibernia Wealth Partners LLC bought a new position in shares of Coca-Cola in the third quarter valued at approximately $25,000. Freedom Wealth Alliance LLC purchased a new position in shares of Coca-Cola in the fourth quarter worth $25,000. ZRC Wealth Management LLC increased its stake in shares of Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the period. Fortis Capital Advisors LLC purchased a new position in Coca-Cola during the 4th quarter valued at $30,000. Finally, KB Financial Partners LLC purchased a new position in Coca-Cola during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the company’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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold 375,407 shares of company stock valued at $22,795,742 over the last ninety days. 0.97% of the stock is currently owned by insiders.

Coca-Cola Trading Up 0.8 %

Shares of Coca-Cola stock traded up $0.45 on Wednesday, hitting $58.51. 13,784,624 shares of the company traded hands, compared to its average volume of 13,817,021. The stock’s 50 day moving average price is $59.94 and its 200-day moving average price is $58.52. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.99. The company has a market cap of $252.25 billion, a PE ratio of 23.59, a PEG ratio of 3.30 and a beta of 0.59.

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

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.32%. Coca-Cola’s payout ratio is 78.23%.

Analyst Ratings Changes

KO has been the topic of a number of research reports. Barclays boosted their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. upped 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. Finally, Citigroup upped their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.18.

About Coca-Cola

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.