Abound Wealth Management Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Abound Wealth Management grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 30.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,304 shares of the company’s stock after purchasing an additional 307 shares during the quarter. Abound Wealth Management’s holdings in Coca-Cola were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP bought a new position in shares of Coca-Cola in the second quarter worth about $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the 3rd quarter worth approximately $36,000. MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the third quarter worth approximately $43,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coca-Cola in the third quarter worth $58,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.1 %

Shares of NYSE KO traded up $0.65 during midday trading on Monday, hitting $61.72. The company’s stock had a trading volume of 10,483,080 shares, compared to its average volume of 15,133,796. The business’s 50 day moving average is $62.91 and its two-hundred day moving average is $66.50. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market cap of $265.88 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 3.83 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 Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Analyst Ratings Changes

Several research analysts recently weighed in on KO shares. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. 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. Piper Sandler started coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.60.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.

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.