BlueChip Wealth Advisors LLC Has $662,000 Stock Position in The Coca-Cola Company (NYSE:KO)

BlueChip Wealth Advisors LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,632 shares of the company’s stock after selling 259 shares during the period. BlueChip Wealth Advisors LLC’s holdings in Coca-Cola were worth $662,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola in the 4th quarter valued at $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola in the 4th quarter valued at $38,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the 4th quarter valued at $37,000. Finally, MilWealth Group LLC purchased a new position in Coca-Cola during the 4th quarter worth $40,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on KO shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler increased 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. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Barclays increased their price target on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two investment 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 MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Price Performance

KO opened at $70.36 on Friday. The company has a market capitalization of $302.80 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 3.79 and a beta of 0.57. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average price of $67.77 and a 200-day moving average price of $66.45. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last released 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 net margin of 22.59% and a return on equity of 45.37%. Equities analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.90%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Activity

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.