Accredited Wealth Management LLC Takes $802,000 Position in The Coca-Cola Company (NYSE:KO)

Accredited Wealth Management LLC purchased a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,889 shares of the company’s stock, valued at approximately $802,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after acquiring an additional 11,569,920 shares in the last quarter. Norges Bank purchased a new stake in Coca-Cola during the 4th quarter valued at about $3,402,151,000. Northern Trust Corp increased its stake in Coca-Cola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock valued at $2,727,131,000 after purchasing an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. raised its holdings in Coca-Cola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after buying an additional 6,118,819 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. UBS Group upped their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $75.59.

Coca-Cola Trading Up 0.6 %

Shares of NYSE:KO opened at $71.69 on Friday. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market cap of $308.52 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The stock has a 50 day moving average of $70.90 and a 200 day moving average of $66.59. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue was down .7% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. Coca-Cola’s payout ratio is 81.60%.

Insider Transactions at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction on 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 over the last 90 days. Company insiders own 0.97% of the company’s stock.

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.