Envestnet Portfolio Solutions Inc. Raises Position in The Coca-Cola Company (NYSE:KO)

Envestnet Portfolio Solutions Inc. boosted its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,027 shares of the company's stock after purchasing an additional 17,754 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Coca-Cola were worth $13,909,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ZRC Wealth Management LLC increased its position in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company's stock worth $26,000 after buying an additional 320 shares during the period. Criterion Capital Advisors LLC acquired a new stake in Coca-Cola in the 4th quarter worth about $30,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Coca-Cola in the 4th quarter valued at about $32,000. Financial Connections Group Inc. bought a new stake in Coca-Cola in the 4th quarter valued at about $38,000. Finally, Avion Wealth grew its position in shares of Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company's stock worth $48,000 after purchasing an additional 322 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded up $0.38 during midday trading on Friday, hitting $63.26. 8,371,691 shares of the company traded hands, compared to its average volume of 13,589,646. The stock has a market cap of $272.52 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 3.60 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The firm's fifty day moving average price is $60.50 and its 200-day moving average price is $59.44. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.25.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.02. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. Coca-Cola's payout ratio is 77.60%.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 247,188 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO James Quincey sold 247,188 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at approximately $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was 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 380,405 shares of company stock worth $23,209,645 over the last three months. Company insiders own 0.97% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Evercore ISI boosted their price target on Coca-Cola from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, May 1st. Barclays boosted their price target on Coca-Cola from $68.00 to $69.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. Citigroup increased their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, January 17th. Finally, UBS Group raised their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $68.27.

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.