Foster Victor Wealth Advisors LLC Has $6.17 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Foster Victor Wealth Advisors LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 376.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,321 shares of the company's stock after acquiring an additional 68,201 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Coca-Cola were worth $6,166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Voleon Capital Management LP acquired a new stake in Coca-Cola in the 4th quarter valued at $2,513,000. Clark Capital Management Group Inc. increased its stake in Coca-Cola by 31.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after buying an additional 204,681 shares during the last quarter. Alphinity Investment Management Pty Ltd increased its stake in Coca-Cola by 8.1% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock valued at $652,767,000 after buying an additional 783,161 shares during the last quarter. StoneX Group Inc. increased its stake in Coca-Cola by 80.0% in the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock valued at $3,224,000 after buying an additional 23,009 shares during the last quarter. Finally, Fortress Financial Group LLC acquired a new stake in Coca-Cola in the 4th quarter valued at $416,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded down $1.30 on Friday, reaching $70.94. 17,424,785 shares of the stock were exchanged, compared to its average volume of 15,884,646. The firm's 50 day moving average is $71.56 and its 200-day moving average is $67.87. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a market cap of $305.36 billion, a PE ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. As a group, analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 266,403 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares of the company's stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president now directly owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.97% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price target on shares of Coca-Cola in a research note on Monday, June 9th. Barclays restated an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Piper Sandler boosted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, UBS Group boosted their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of "Buy" and an average target price of $76.00.

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.