Burling Wealth Partners LLC Buys New Shares in The Coca-Cola Company (NYSE:KO)

by · The Cerbat Gem

Burling Wealth Partners LLC purchased a new position in The Coca-Cola Company (NYSE:KO – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,659 shares of the company’s stock, valued at approximately $539,000.

Several other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares in the last quarter. Norges Bank purchased a new position in Coca-Cola during the 4th quarter worth approximately $3,402,151,000. Franklin Resources Inc. raised its stake in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. Capital International Investors lifted its holdings in shares of Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Coca-Cola by 18.2% in the fourth quarter. Invesco Ltd. now owns 24,566,933 shares of the company’s stock worth $1,529,537,000 after buying an additional 3,791,300 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday. UBS Group boosted their price target on Coca-Cola from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. 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 report on Wednesday, January 8th. Piper Sandler lifted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $75.06.

Get Our Latest Analysis on KO

Coca-Cola Stock Performance

Shares of NYSE KO opened at $72.51 on Friday. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. 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 business has a fifty day simple moving average of $70.72 and a 200 day simple moving average of $66.50. The firm has a market capitalization of $312.05 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect 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 was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.81%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the 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 sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 313,423 shares of company stock worth $22,263,071. Company insiders own 0.97% of the company’s stock.

Coca-Cola Profile

(Free Report)

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.

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