Wealth Enhancement Advisory Services LLC Has $68.15 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Wealth Enhancement Advisory Services LLC increased its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,094,534 shares of the company's stock after acquiring an additional 210,152 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Coca-Cola were worth $68,146,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new position in Coca-Cola during the fourth quarter worth approximately $241,000. Brighton Jones LLC raised its stake in Coca-Cola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after purchasing an additional 4,591 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of Coca-Cola in the 4th quarter valued at $24,472,000. Revolve Wealth Partners LLC raised its stake in shares of Coca-Cola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after acquiring an additional 293 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in shares of Coca-Cola by 7.4% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 15,874 shares of the company's stock valued at $988,000 after acquiring an additional 1,096 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Coca-Cola Stock Up 0.9%

KO stock traded up $0.64 during mid-day trading on Friday, hitting $72.13. 28,013,099 shares of the company were exchanged, compared to its average volume of 15,739,540. The company has a market capitalization of $310.47 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a fifty day simple moving average of $71.28 and a 200 day simple moving average of $67.20.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. On average, research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is currently 81.60%.

Insiders Place Their Bets

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares of the company's stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was 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 owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 229,761 shares of company stock valued at $16,474,587 in the last ninety days. Corporate insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of research reports. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. UBS Group raised their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Piper Sandler raised their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, Barclays reissued an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $75.81.

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.