Alteri Wealth LLC Takes Position in The Coca-Cola Company (NYSE:KO)

Alteri Wealth LLC acquired a new stake in The Coca-Cola Company (NYSE:KO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,734 shares of the company's stock, valued at approximately $419,000.

A number of other hedge funds also recently made changes to their positions in KO. Franklin Resources Inc. lifted its position in shares of Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in Coca-Cola by 16.2% during the 4th quarter. CWA Asset Management Group LLC now owns 19,407 shares of the company's stock worth $1,208,000 after acquiring an additional 2,706 shares during the period. Burkett Financial Services LLC boosted its stake in Coca-Cola by 4.1% during the fourth quarter. Burkett Financial Services LLC now owns 5,572 shares of the company's stock valued at $347,000 after buying an additional 221 shares during the period. Neville Rodie & Shaw Inc. increased its position in shares of Coca-Cola by 12.7% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 60,035 shares of the company's stock worth $3,738,000 after purchasing an additional 6,760 shares during the last quarter. Finally, Capital Market Strategies LLC bought a new stake in Coca-Cola during the fourth quarter valued at approximately $202,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

KO stock traded up $0.06 during midday trading on Monday, hitting $71.71. The company's stock had a trading volume of 11,928,652 shares, compared to its average volume of 15,428,494. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a 50 day moving average of $70.92 and a two-hundred day moving average of $66.55. The firm has a market capitalization of $308.61 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period last year, the company earned $0.72 earnings per share. The business's revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. This represents a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last quarter. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler upped their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and lifted their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Morgan Stanley increased their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $75.59.

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.