Aprio Wealth Management LLC Decreases Position in The Coca-Cola Company (NYSE:KO)

Aprio Wealth Management LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,869 shares of the company’s stock after selling 814 shares during the period. Aprio Wealth Management LLC’s holdings in Coca-Cola were worth $1,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Parallel Advisors LLC increased its stake in Coca-Cola by 0.9% in the second quarter. Parallel Advisors LLC now owns 82,345 shares of the company’s stock valued at $5,241,000 after purchasing an additional 755 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Coca-Cola by 9.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 87,195 shares of the company’s stock valued at $5,550,000 after purchasing an additional 7,594 shares during the period. Envestnet Asset Management Inc. increased its stake in Coca-Cola by 2.8% in the second quarter. Envestnet Asset Management Inc. now owns 4,847,781 shares of the company’s stock valued at $308,561,000 after purchasing an additional 130,581 shares during the period. Williams Financial LLC acquired a new position in Coca-Cola in the second quarter valued at $6,593,000. Finally, Hoge Financial Services LLC increased its stake in Coca-Cola by 6.1% in the second quarter. Hoge Financial Services LLC now owns 3,850 shares of the company’s stock valued at $245,000 after purchasing an additional 222 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

KO stock opened at $60.98 on Monday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $262.69 billion, a P/E ratio of 25.20, a PEG ratio of 3.83 and a beta of 0.61. The company has a 50-day simple moving average of $62.91 and a 200 day simple moving average of $66.50.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the company earned $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. Sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KO shares. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.60.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’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 approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is owned by corporate insiders.

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.