Baker Tilly Wealth Management LLC Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Baker Tilly Wealth Management LLC increased its holdings in The Coca-Cola Company (NYSE:KO) by 4.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,951 shares of the company’s stock after buying an additional 709 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Coca-Cola were worth $1,218,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Aviance Capital Partners LLC boosted its holdings in shares of Coca-Cola by 249.1% in the 1st quarter. Aviance Capital Partners LLC now owns 23,634 shares of the company’s stock worth $1,446,000 after purchasing an additional 16,864 shares during the period. BKM Wealth Management LLC boosted its stake in Coca-Cola by 23.2% during the first quarter. BKM Wealth Management LLC now owns 8,206 shares of the company’s stock worth $502,000 after buying an additional 1,547 shares during the period. Allspring Global Investments Holdings LLC increased its position in Coca-Cola by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 356,812 shares of the company’s stock valued at $21,830,000 after acquiring an additional 11,299 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of Coca-Cola by 3.7% in the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 11,132 shares of the company’s stock valued at $681,000 after acquiring an additional 395 shares during the period. Finally, Synergy Asset Management LLC lifted its holdings in shares of Coca-Cola by 16.7% in the 1st quarter. Synergy Asset Management LLC now owns 353,611 shares of the company’s stock worth $21,634,000 after acquiring an additional 50,489 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on KO. Deutsche Bank Aktiengesellschaft upped their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Citigroup upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Price Performance

Shares of NYSE KO opened at $66.99 on Monday. The Coca-Cola Company has a 52 week low of $55.42 and a 52 week high of $73.53. The business’s 50 day moving average price is $70.66 and its 200 day moving average price is $66.11. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm has a market cap of $288.59 billion, a P/E ratio of 26.77, a P/E/G ratio of 3.91 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the firm earned $0.74 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.90%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Activity

In related news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 319,005 shares of company stock valued at $22,198,147 in the last quarter. 0.97% of the stock is currently owned by company insiders.

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.