Royal Fund Management LLC Has $2.03 Million Position in The Coca-Cola Company (NYSE:KO)

Royal Fund Management LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 29.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,493 shares of the company’s stock after buying an additional 7,313 shares during the quarter. Royal Fund Management LLC’s holdings in Coca-Cola were worth $2,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. FMR LLC grew its holdings in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Geode Capital Management LLC boosted its position in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Coca-Cola by 2.9% during the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after purchasing an additional 1,084,475 shares during the period. Wellington Management Group LLP grew its stake in shares of Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after purchasing an additional 1,609,565 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

KO has been the subject of several research analyst reports. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Two 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Coca-Cola Stock Up 0.8 %

NYSE KO opened at $62.76 on Tuesday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The business has a fifty day moving average price of $62.69 and a two-hundred day moving average price of $66.45. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $270.34 billion, a PE ratio of 25.93, a PEG ratio of 3.43 and a beta of 0.61.

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, topping analysts’ consensus estimates 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 analyst estimates of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Company 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.