Prentice Wealth Management LLC Purchases 570 Shares of The Coca-Cola Company (NYSE:KO)

Prentice Wealth Management LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,029 shares of the company’s stock after acquiring an additional 570 shares during the quarter. Prentice Wealth Management LLC’s holdings in Coca-Cola were worth $552,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Thompson Investment Management Inc. increased its position in shares of Coca-Cola by 1.7% in the first quarter. Thompson Investment Management Inc. now owns 34,052 shares of the company’s stock worth $2,083,000 after purchasing an additional 578 shares during the last quarter. Hoxton Planning & Management LLC increased its holdings in Coca-Cola by 25.7% in the 1st quarter. Hoxton Planning & Management LLC now owns 5,773 shares of the company’s stock worth $353,000 after buying an additional 1,182 shares in the last quarter. Beech Hill Advisors Inc. grew its stake in shares of Coca-Cola by 3.4% during the 1st quarter. Beech Hill Advisors Inc. now owns 52,194 shares of the company’s stock valued at $3,193,000 after purchasing an additional 1,721 shares during the period. Evanson Asset Management LLC purchased a new position in shares of Coca-Cola during the 1st quarter valued at about $212,000. Finally, Dynamic Advisor Solutions LLC lifted its holdings in Coca-Cola by 9.1% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 82,323 shares of the company’s stock worth $5,036,000 after purchasing an additional 6,880 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the sale, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Insiders sold 223,665 shares of company stock valued at $13,995,465 over the last quarter. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

KO traded up $0.12 on Wednesday, reaching $63.96. The stock had a trading volume of 4,987,736 shares, compared to its average volume of 13,091,660. The company has a market cap of $275.54 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 3.61 and a beta of 0.59. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.36. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average price is $62.44 and its two-hundred day moving average price is $60.69.

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

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. Coca-Cola’s payout ratio is currently 77.60%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KO. BNP Paribas began coverage on Coca-Cola in a research report on Monday. They set an “outperform” rating and a $72.00 price target on the stock. Evercore ISI increased their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Argus increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley upped their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Finally, Barclays increased their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $68.83.

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.