By otakuyassine3@gmail.com 
Whitener Capital Management Inc. grew its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,336 shares of the company’s stock after acquiring an additional 673 shares during the period. Whitener Capital Management Inc.’s holdings in Coca-Cola were worth $2,138,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $18,383,000. Balentine LLC boosted its holdings in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after acquiring an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after purchasing an additional 46,541 shares during the period. Finally, Fiduciary Alliance LLC boosted its stake in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.
Coca-Cola Stock Performance
Shares of KO stock opened at $62.76 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average price of $62.71 and a 200-day moving average price of $66.41. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The firm has a market capitalization of $270.34 billion, a PE ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61.
Coca-Cola (NYSE:KO – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS 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 firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.
Insiders Place Their Bets
In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. UBS Group lowered their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Piper Sandler assumed coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.13.
Read Our Latest Analysis on KO
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.
Read More
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO – Free Report).
Receive News & Ratings for Coca-Cola Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Coca-Cola and related companies with MarketBeat.com’s FREE daily email newsletter.