Mission Wealth Management LP Raises Stake in The Coca-Cola Company (NYSE:KO)

Mission Wealth Management LP lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 10.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 35,737 shares of the company’s stock after purchasing an additional 3,473 shares during the quarter. Mission Wealth Management LP’s holdings in Coca-Cola were worth $2,106,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Vicus Capital lifted its position in Coca-Cola by 72.8% during the 3rd quarter. Vicus Capital now owns 9,798 shares of the company’s stock worth $549,000 after acquiring an additional 4,129 shares in the last quarter. Clear Creek Financial Management LLC lifted its position in Coca-Cola by 7.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 9,325 shares of the company’s stock worth $522,000 after acquiring an additional 630 shares in the last quarter. Dakota Wealth Management raised its position in shares of Coca-Cola by 35.3% in the 3rd quarter. Dakota Wealth Management now owns 63,920 shares of the company’s stock valued at $3,578,000 after purchasing an additional 16,679 shares in the last quarter. Mayfair Advisory Group LLC raised its position in shares of Coca-Cola by 10.1% in the 3rd quarter. Mayfair Advisory Group LLC now owns 17,555 shares of the company’s stock valued at $948,000 after purchasing an additional 1,615 shares in the last quarter. Finally, Tectonic Advisors LLC raised its position in shares of Coca-Cola by 10.1% in the 3rd quarter. Tectonic Advisors LLC now owns 74,889 shares of the company’s stock valued at $4,192,000 after purchasing an additional 6,863 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $61.76 on Wednesday. The company has a market cap of $266.26 billion, a P/E ratio of 24.90, a PEG ratio of 3.54 and a beta of 0.59. The stock has a fifty day moving average price of $60.19 and a 200 day moving average price of $59.02. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.69.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Activity

In other news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders sold a total of 323,107 shares of company stock worth $19,657,742 over the last 90 days. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays upped their target price on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. cut their target price on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Finally, Citigroup upped their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.22.

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.