Wealth Enhancement Advisory Services LLC Purchases 8,810 Shares of The Coca-Cola Company (NYSE:KO)

Wealth Enhancement Advisory Services LLC increased its position in The Coca-Cola Company (NYSE:KO) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 893,192 shares of the company’s stock after purchasing an additional 8,810 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Coca-Cola were worth $55,610,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quarry LP bought a new position in Coca-Cola during the 2nd quarter valued at $27,000. Hara Capital LLC bought a new position in Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the 3rd quarter valued at $36,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the 3rd quarter valued at $43,000. Finally, ORG Wealth Partners LLC bought a new position in Coca-Cola during the 3rd quarter valued at $58,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Performance

Shares of KO opened at $60.98 on Friday. The company has a market cap of $262.69 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. 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 stock has a 50-day moving average price of $62.91 and a 200-day moving average price of $66.46. 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 results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during 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 company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

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

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Piper Sandler initiated coverage on Coca-Cola in a report on Tuesday. They set an “overweight” rating and a $74.00 target price for the company. Finally, Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

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.