Fifth Third Wealth Advisors LLC Has $5.95 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Fifth Third Wealth Advisors LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 2.0% during the 4th quarter, HoldingsChannel reports. The fund owned 95,530 shares of the company’s stock after acquiring an additional 1,836 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Coca-Cola were worth $5,948,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of KO. CCLA Investment Management boosted its holdings in Coca-Cola by 22.7% in the 4th quarter. CCLA Investment Management now owns 2,472,226 shares of the company’s stock valued at $153,970,000 after purchasing an additional 457,097 shares during the period. Community Trust & Investment Co. boosted its stake in shares of Coca-Cola by 1.6% in the fourth quarter. Community Trust & Investment Co. now owns 53,072 shares of the company’s stock valued at $3,304,000 after buying an additional 852 shares during the period. Pines Wealth Management LLC acquired a new stake in Coca-Cola during the fourth quarter worth approximately $332,000. Accurate Wealth Management LLC increased its stake in Coca-Cola by 12.5% during the 4th quarter. Accurate Wealth Management LLC now owns 13,829 shares of the company’s stock worth $845,000 after acquiring an additional 1,533 shares during the period. Finally, Wynn Capital LLC raised its holdings in Coca-Cola by 2.2% in the 4th quarter. Wynn Capital LLC now owns 21,810 shares of the company’s stock valued at $1,358,000 after acquiring an additional 470 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.5 %

NYSE:KO opened at $61.98 on Wednesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The firm’s 50 day simple moving average is $62.78 and its 200 day simple moving average is $66.47. The company has a market cap of $267.00 billion, a PE ratio of 25.61, a P/E/G ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analyst Ratings Changes

KO has been the topic of several analyst reports. Piper Sandler assumed coverage on Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company decreased their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.60.

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.