WealthBridge Investment Counsel Inc. Sells 350 Shares of The Coca-Cola Company (NYSE:KO)

WealthBridge Investment Counsel Inc. decreased its holdings in The Coca-Cola Company (NYSE:KO) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,450 shares of the company’s stock after selling 350 shares during the quarter. WealthBridge Investment Counsel Inc.’s holdings in Coca-Cola were worth $3,943,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Accel Wealth Management acquired a new position in Coca-Cola during the 1st quarter worth about $206,000. First Trust Direct Indexing L.P. boosted its holdings in Coca-Cola by 6.4% in the first quarter. First Trust Direct Indexing L.P. now owns 100,789 shares of the company’s stock valued at $6,166,000 after acquiring an additional 6,061 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in Coca-Cola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 106,992 shares of the company’s stock valued at $6,546,000 after purchasing an additional 3,430 shares during the period. Kovack Advisors Inc. lifted its position in shares of Coca-Cola by 3.5% in the 1st quarter. Kovack Advisors Inc. now owns 36,260 shares of the company’s stock worth $2,218,000 after purchasing an additional 1,240 shares during the period. Finally, Massachusetts Wealth Management boosted its stake in shares of Coca-Cola by 3.9% in the 1st quarter. Massachusetts Wealth Management now owns 32,306 shares of the company’s stock valued at $1,976,000 after purchasing an additional 1,225 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KO. Morgan Stanley boosted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Argus increased their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI boosted their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.83.

Insider Buying and Selling

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Henrique Braun sold 57,298 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total transaction of $3,614,357.84. Following the sale, the executive vice president now owns 52,466 shares of the company’s stock, valued at approximately $3,309,555.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

Coca-Cola stock traded up $0.18 during mid-day trading on Thursday, reaching $63.33. 9,154,198 shares of the company’s stock were exchanged, compared to its average volume of 11,000,689. The firm has a market capitalization of $272.82 billion, a PE ratio of 25.33, a P/E/G ratio of 3.57 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The business’s fifty day simple moving average is $62.86 and its 200 day simple moving average is $60.86. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.36.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. On average, sell-side analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.06%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Coca-Cola Company 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.