Xcel Wealth Management LLC Sells 1,061 Shares of The Coca-Cola Company (NYSE:KO)

Xcel Wealth Management LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,130 shares of the company’s stock after selling 1,061 shares during the quarter. Xcel Wealth Management LLC’s holdings in Coca-Cola were worth $631,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Howard Capital Management Group LLC lifted its holdings in shares of Coca-Cola by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after buying an additional 2,069 shares in the last quarter. Goldstone Financial Group LLC purchased a new stake in Coca-Cola in the third quarter worth about $228,000. Aspen Wealth Strategies LLC purchased a new stake in Coca-Cola in the third quarter worth about $216,000. Pacific Wealth Strategies Group Inc. lifted its position in shares of Coca-Cola by 1.7% during the third quarter. Pacific Wealth Strategies Group Inc. now owns 22,028 shares of the company’s stock valued at $1,583,000 after buying an additional 372 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Coca-Cola by 0.9% during the third quarter. Stephens Inc. AR now owns 409,125 shares of the company’s stock valued at $29,400,000 after buying an additional 3,793 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on KO. UBS Group increased their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Barclays raised their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,646 shares of company stock valued at $16,515,469 in the last three months. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Up 0.5 %

Shares of NYSE:KO opened at $71.20 on Friday. The business has a 50-day moving average price of $64.53 and a 200 day moving average price of $66.53. 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 company has a market capitalization of $306.22 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-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 analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Sell-side analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is currently 82.59%.

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.