Waterfront Wealth Inc. Buys 365 Shares of The Coca-Cola Company (NYSE:KO)

Waterfront Wealth Inc. grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,450 shares of the company’s stock after purchasing an additional 365 shares during the quarter. Waterfront Wealth Inc.’s holdings in Coca-Cola were worth $1,028,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Freedom Wealth Alliance LLC bought a new stake in Coca-Cola in the fourth quarter worth $25,000. Hibernia Wealth Partners LLC purchased a new stake in shares of Coca-Cola during the third quarter valued at $25,000. ZRC Wealth Management LLC boosted its stake in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Fortis Capital Advisors LLC purchased a new stake in Coca-Cola in the fourth quarter worth about $30,000. Finally, KB Financial Partners LLC purchased a new stake in Coca-Cola in the first quarter worth about $31,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.8 %

Shares of NYSE:KO traded up $0.45 during midday trading on Wednesday, reaching $58.51. 13,784,624 shares of the company’s stock were exchanged, compared to its average volume of 13,817,021. The firm’s 50 day simple moving average is $59.94 and its two-hundred day simple moving average is $58.52. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market cap of $252.25 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 3.30 and a beta of 0.59. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.99.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $10.68 billion. During the same period last year, the business posted $0.45 EPS. Coca-Cola’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.32%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Insider Activity at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a document filed with the SEC, which is available through 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 shares were 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. Insiders sold 375,407 shares of company stock worth $22,795,742 in the last three months. 0.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

KO has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Citigroup increased their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays increased their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.18.

About Coca-Cola

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.