Heritage Wealth Management Inc. Has $1.83 Million Position in The Coca-Cola Company (NYSE:KO)

Heritage Wealth Management Inc. lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,392 shares of the company’s stock after selling 297 shares during the period. Heritage Wealth Management Inc.’s holdings in Coca-Cola were worth $1,830,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hara Capital LLC acquired a new position in shares of Coca-Cola during the 3rd quarter valued at $35,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the third quarter worth $43,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at $37,000. MilWealth Group LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at $40,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Stock Performance

NYSE KO opened at $71.20 on Friday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a 50-day simple moving average of $64.53 and a 200 day simple moving average of $66.51. 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 company has a market capitalization of $306.22 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Transactions at Coca-Cola

In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,646 shares of company stock worth $16,515,469 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

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.