Merit Financial Group LLC Has $6.21 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Merit Financial Group LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,793 shares of the company’s stock after acquiring an additional 10,632 shares during the quarter. Merit Financial Group LLC’s holdings in Coca-Cola were worth $6,213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Quarry LP bought a new stake in shares of Coca-Cola during the 2nd quarter valued at approximately $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the third quarter worth $36,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at $43,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at $58,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value 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. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.8 %

Shares of KO stock opened at $62.76 on Friday. The company has a market cap of $270.34 billion, a P/E ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The stock has a 50 day simple moving average of $62.69 and a two-hundred day simple moving average of $66.40. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

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

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent research reports. UBS Group lowered their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Piper Sandler initiated coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target for the company. Morgan Stanley dropped 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two investment 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 company. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

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.