White Knight Strategic Wealth Advisors LLC Takes $545,000 Position in The Coca-Cola Company (NYSE:KO)

White Knight Strategic Wealth Advisors LLC bought a new stake in The Coca-Cola Company (NYSE:KO) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 8,758 shares of the company’s stock, valued at approximately $545,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Voleon Capital Management LP acquired a new position in Coca-Cola in the 4th quarter valued at $2,513,000. Rice Partnership LLC increased its holdings in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Coca-Cola by 62.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company’s stock worth $1,663,000 after purchasing an additional 10,240 shares during the period. Lockheed Martin Investment Management Co. increased its holdings in shares of Coca-Cola by 16.3% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company’s stock worth $13,634,000 after purchasing an additional 30,650 shares during the period. Finally, abrdn plc increased its holdings in shares of Coca-Cola by 0.3% during the 4th quarter. abrdn plc now owns 7,238,640 shares of the company’s stock worth $447,963,000 after purchasing an additional 22,904 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 462,407 shares of company stock worth $32,990,056 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. UBS Group boosted their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company boosted their price objective on shares of 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 given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $75.59.

Coca-Cola Price Performance

NYSE:KO opened at $71.69 on Wednesday. The firm has a market cap of $308.57 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. 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 company’s 50-day moving average price is $70.96 and its two-hundred day moving average price is $66.86.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. On average, equities analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.85%. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

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.