Wealthspire Advisors LLC Has $9.05 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Wealthspire Advisors LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,370 shares of the company’s stock after buying an additional 6,460 shares during the period. Wealthspire Advisors LLC’s holdings in Coca-Cola were worth $9,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall Investment Management LLC acquired a new position in Coca-Cola during the 4th quarter valued at about $128,000. TCW Group Inc. lifted its position in Coca-Cola by 0.6% during the 4th quarter. TCW Group Inc. now owns 143,814 shares of the company’s stock valued at $8,954,000 after purchasing an additional 877 shares during the period. Richardson Capital Management LLC lifted its position in Coca-Cola by 138.5% during the 4th quarter. Richardson Capital Management LLC now owns 1,550 shares of the company’s stock valued at $97,000 after purchasing an additional 900 shares during the period. First Horizon Advisors Inc. lifted its position in Coca-Cola by 4.4% during the 4th quarter. First Horizon Advisors Inc. now owns 197,361 shares of the company’s stock valued at $12,288,000 after purchasing an additional 8,251 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its position in Coca-Cola by 0.4% during the 4th quarter. Pinnacle Financial Partners Inc now owns 270,616 shares of the company’s stock valued at $16,873,000 after purchasing an additional 1,178 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on KO shares. Piper Sandler cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. UBS Group upped their price target on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley upped their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Price Performance

Shares of KO opened at $71.37 on Friday. The stock has a market capitalization of $307.46 billion, a P/E ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a 50 day moving average of $63.71 and a 200-day moving average of $66.42. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results 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%. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS 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. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is presently 78.54%.

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.