Avantax Planning Partners Inc. Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Avantax Planning Partners Inc. increased its position in The Coca-Cola Company (NYSE:KO) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 170,451 shares of the company’s stock after acquiring an additional 6,169 shares during the period. Avantax Planning Partners Inc.’s holdings in Coca-Cola were worth $10,612,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in KO. Charles Schwab Investment Management Inc. raised its stake in Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after buying an additional 11,569,920 shares during the last quarter. FMR LLC raised its stake in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Coca-Cola during the 4th quarter valued at $500,192,000. Wellington Management Group LLP raised its stake in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Coca-Cola during the 3rd quarter valued at $269,382,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 0.1 %

Shares of KO stock opened at $71.47 on Tuesday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a market capitalization of $307.39 billion, a PE ratio of 28.93, a PEG ratio of 3.79 and a beta of 0.57. The stock has a fifty day simple moving average of $65.55 and a two-hundred day simple moving average of $66.57.

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

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Insider Activity

In related news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the transaction, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction dated Tuesday, February 25th. The shares were 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 of the company’s stock, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,646 shares of company stock worth $16,515,469 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on KO shares. Barclays boosted their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Morgan Stanley boosted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. UBS Group boosted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.24.

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.