Axxcess Wealth Management LLC Has $8.72 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Axxcess Wealth Management LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,028 shares of the company’s stock after selling 3,073 shares during the period. Axxcess Wealth Management LLC’s holdings in Coca-Cola were worth $8,718,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Howard Capital Management Group LLC lifted its position in shares of Coca-Cola by 0.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after purchasing an additional 2,069 shares during the period. United Bank lifted its position in shares of Coca-Cola by 65.4% in the 3rd quarter. United Bank now owns 80,888 shares of the company’s stock worth $5,813,000 after purchasing an additional 31,979 shares during the period. Aljian Capital Management LLC acquired a new position in shares of Coca-Cola in the 3rd quarter worth approximately $221,000. Quest Partners LLC lifted its position in shares of Coca-Cola by 87.4% in the 3rd quarter. Quest Partners LLC now owns 60,799 shares of the company’s stock worth $4,369,000 after purchasing an additional 28,358 shares during the period. Finally, Richard C. Young & CO. LTD. lifted its position in shares of Coca-Cola by 9.0% in the 3rd quarter. Richard C. Young & CO. LTD. now owns 158,900 shares of the company’s stock worth $11,419,000 after purchasing an additional 13,110 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Up 1.4 %

Shares of Coca-Cola stock opened at $70.15 on Tuesday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a market cap of $301.70 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 3.79 and a beta of 0.57. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The company’s 50-day moving average price is $66.37 and its 200-day moving average price is $66.53.

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

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is 82.59%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KO. Piper Sandler lifted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Morgan Stanley lifted their price objective 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. Barclays lifted their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, UBS Group lifted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Buying and Selling

In other news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company’s stock.

Coca-Cola 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.