Gray Wealth Management Inc. Has $648,000 Position in The Coca-Cola Company (NYSE:KO)

Gray Wealth Management Inc. lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 9.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,991 shares of the company’s stock after selling 1,133 shares during the quarter. Gray Wealth Management Inc.’s holdings in Coca-Cola were worth $648,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hibernia Wealth Partners LLC acquired a new stake in Coca-Cola during the 3rd quarter worth approximately $25,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $25,000. ZRC Wealth Management LLC boosted its position in shares of Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the period. Fortis Capital Advisors LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $30,000. Finally, KB Financial Partners LLC acquired a new position in shares of Coca-Cola in the first quarter valued at about $31,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.40 during midday trading on Thursday, reaching $58.91. 11,108,023 shares of the company were exchanged, compared to its average volume of 13,781,075. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.99. The stock has a market cap of $253.97 billion, a P/E ratio of 23.74, a PEG ratio of 3.29 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average price is $59.94 and its 200-day moving average price is $58.52.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The company had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. During the same period in the previous year, the business posted $0.45 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 78.23%.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 375,407 shares of company stock worth $22,795,742. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Barclays boosted their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Citigroup lifted their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. raised their price target on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.18.

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.