GSB Wealth Management LLC Raises Position in The Coca-Cola Company (NYSE:KO)

GSB Wealth Management LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,931 shares of the company’s stock after acquiring an additional 482 shares during the quarter. GSB Wealth Management LLC’s holdings in Coca-Cola were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Grimes & Company Inc. grew its stake in shares of Coca-Cola by 4.1% in the 4th quarter. Grimes & Company Inc. now owns 23,392 shares of the company’s stock worth $1,456,000 after buying an additional 921 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Coca-Cola by 0.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 32,641 shares of the company’s stock valued at $2,032,000 after buying an additional 190 shares during the period. Fifth Third Bancorp boosted its position in Coca-Cola by 0.6% in the 4th quarter. Fifth Third Bancorp now owns 1,672,567 shares of the company’s stock valued at $104,134,000 after buying an additional 10,024 shares during the period. Bennett Selby Investments LP boosted its position in Coca-Cola by 2.2% in the 4th quarter. Bennett Selby Investments LP now owns 12,578 shares of the company’s stock valued at $783,000 after buying an additional 273 shares during the period. Finally, Atlas Private Wealth Advisors raised its holdings in shares of Coca-Cola by 1.4% in the 4th quarter. Atlas Private Wealth Advisors now owns 29,730 shares of the company’s stock valued at $1,851,000 after purchasing an additional 413 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KO. Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Piper Sandler dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Barclays lowered their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.07.

Coca-Cola Trading Up 0.7 %

NYSE KO opened at $61.98 on Friday. The stock has a market capitalization of $267.01 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 3.38 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 52 week low of $57.93 and a 52 week high of $73.53. The firm has a 50 day moving average of $62.62 and a two-hundred day moving average of $66.36.

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 the consensus estimate 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 company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. As a group, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

About Coca-Cola

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.