CX Institutional Buys 18,358 Shares of The Coca-Cola Company (NYSE:KO)

CX Institutional lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 17.2% during the fourth quarter, HoldingsChannel reports. The firm owned 125,314 shares of the company’s stock after acquiring an additional 18,358 shares during the quarter. CX Institutional’s holdings in Coca-Cola were worth $7,802,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Apella Capital LLC raised its position in Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares in the last quarter. Investment Advisory Group LLC raised its holdings in shares of Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after purchasing an additional 146 shares during the period. CCG Wealth Management LLC lifted its stake in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after purchasing an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. grew its holdings in Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares during the period. Finally, Chapin Davis Inc. increased its position in Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KO. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. 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 research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Piper Sandler lowered their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $72.07.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.1 %

Shares of NYSE KO opened at $61.58 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock’s fifty day moving average is $62.63 and its 200 day moving average is $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. The stock has a market capitalization of $265.26 billion, a P/E ratio of 25.46, a PEG ratio of 3.38 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for 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%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share 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.