Meriwether Wealth & Planning LLC Makes New $239,000 Investment in The Coca-Cola Company (NYSE:KO)

Meriwether Wealth & Planning LLC purchased a new stake in shares of The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,840 shares of the company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Johnson Investment Counsel Inc. increased its position in shares of Coca-Cola by 1.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 1,458,691 shares of the company’s stock valued at $90,818,000 after purchasing an additional 20,031 shares during the last quarter. Moran Wealth Management LLC grew its stake in shares of Coca-Cola by 6.9% during the 4th quarter. Moran Wealth Management LLC now owns 41,850 shares of the company’s stock valued at $2,606,000 after acquiring an additional 2,684 shares during the period. Bell Investment Advisors Inc grew its stake in shares of Coca-Cola by 10.1% during the 4th quarter. Bell Investment Advisors Inc now owns 2,826 shares of the company’s stock valued at $176,000 after acquiring an additional 260 shares during the period. Sound View Wealth Advisors Group LLC grew its stake in shares of Coca-Cola by 3.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 120,395 shares of the company’s stock valued at $7,496,000 after acquiring an additional 3,607 shares during the period. Finally, Enterprise Financial Services Corp grew its stake in shares of Coca-Cola by 2.0% during the 4th quarter. Enterprise Financial Services Corp now owns 10,607 shares of the company’s stock valued at $660,000 after acquiring an additional 213 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KO shares. TD Cowen upgraded 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. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. DZ Bank upgraded 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. Morgan Stanley increased their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Barclays increased their target price on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Trading Up 1.5 %

Shares of KO stock opened at $71.52 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The business’s 50 day moving average is $65.36 and its two-hundred day moving average is $66.56. The company has a market capitalization of $307.60 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 82.59%.

Insider Buying and Selling at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,646 shares of company stock valued at $16,515,469. Company insiders own 0.97% of the company’s stock.

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.