Axxcess Wealth Management LLC Purchases 39,613 Shares of The Coca-Cola Company (NYSE:KO)

Axxcess Wealth Management LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 29.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,060 shares of the company’s stock after acquiring an additional 39,613 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Coca-Cola were worth $10,257,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in KO. Power Wealth Management LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $346,000. U.S. Capital Wealth Advisors LLC grew its stake in Coca-Cola by 6.8% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 181,275 shares of the company’s stock worth $10,683,000 after acquiring an additional 11,498 shares in the last quarter. Merit Financial Group LLC increased its position in shares of Coca-Cola by 14.7% during the fourth quarter. Merit Financial Group LLC now owns 72,491 shares of the company’s stock worth $4,272,000 after acquiring an additional 9,297 shares during the period. Bordeaux Wealth Advisors LLC boosted its holdings in shares of Coca-Cola by 5.0% in the fourth quarter. Bordeaux Wealth Advisors LLC now owns 7,368 shares of the company’s stock valued at $434,000 after purchasing an additional 354 shares during the period. Finally, Coulter & Justus Financial Services LLC bought a new position in Coca-Cola in the fourth quarter worth approximately $550,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold a total of 323,107 shares of company stock valued at $19,657,742 over the last quarter. 0.97% of the stock is owned by company insiders.

Coca-Cola Price Performance

KO traded up $0.18 during midday trading on Friday, hitting $62.17. 11,628,675 shares of the company traded hands, compared to its average volume of 13,782,690. The business has a 50 day simple moving average of $60.24 and a two-hundred day simple moving average of $59.12. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.25. The company has a market capitalization of $268.03 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 3.55 and a beta of 0.57. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KO. Barclays increased their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup lifted their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Evercore ISI increased their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

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.