Future Financial Wealth Managment LLC Decreases Holdings in The Coca-Cola Company (NYSE:KO)

Future Financial Wealth Managment LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 39.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,202 shares of the company’s stock after selling 791 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in Coca-Cola were worth $75,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KO. Wedmont Private Capital raised its stake in Coca-Cola by 15.1% in the 4th quarter. Wedmont Private Capital now owns 51,263 shares of the company’s stock valued at $3,131,000 after purchasing an additional 6,706 shares during the last quarter. Capital Investment Advisors LLC raised its position in shares of Coca-Cola by 0.8% in the fourth quarter. Capital Investment Advisors LLC now owns 500,194 shares of the company’s stock valued at $31,142,000 after buying an additional 4,017 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Coca-Cola by 36.3% during the fourth quarter. Brookstone Capital Management now owns 111,063 shares of the company’s stock valued at $6,915,000 after buying an additional 29,605 shares during the period. Trust Co. of Toledo NA OH boosted its position in Coca-Cola by 1.5% during the fourth quarter. Trust Co. of Toledo NA OH now owns 94,051 shares of the company’s stock worth $5,856,000 after acquiring an additional 1,423 shares during the last quarter. Finally, Fiduciary Alliance LLC boosted its position in Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after acquiring an additional 8,499 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Up 1.2 %

KO traded up $0.76 on Monday, reaching $61.83. The company’s stock had a trading volume of 9,078,329 shares, compared to its average volume of 14,930,507. The stock has a market cap of $266.35 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The business’s 50 day moving average is $62.91 and its 200 day moving average is $66.50.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

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.