Smith Salley Wealth Management Has $3.74 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Smith Salley Wealth Management increased its stake in The Coca-Cola Company (NYSE:KO) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,135 shares of the company’s stock after acquiring an additional 202 shares during the quarter. Smith Salley Wealth Management’s holdings in Coca-Cola were worth $3,744,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new position in Coca-Cola in the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the third quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the 3rd quarter worth about $43,000. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KO has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Barclays lowered their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday. Piper Sandler started coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on 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 sale, the chief executive officer now directly owns 342,546 shares in the company, 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 can be accessed through this link. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Up 0.8 %

KO stock opened at $62.76 on Friday. 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. 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 Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock’s 50 day moving average is $62.69 and its 200-day moving average is $66.40.

Coca-Cola (NYSE:KO) last issued 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the business earned $0.74 EPS. The business’s revenue was down .8% on a year-over-year basis. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

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.