Wealth Quarterback LLC Has $1.10 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Wealth Quarterback LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 10.4% in the 4th quarter, HoldingsChannel reports. The fund owned 17,668 shares of the company’s stock after selling 2,056 shares during the quarter. Wealth Quarterback LLC’s holdings in Coca-Cola were worth $1,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Portfolios Group Inc. acquired a new position in shares of Coca-Cola during the 3rd quarter worth approximately $18,383,000. Balentine LLC grew its position in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares in the last quarter. Rice Partnership LLC raised its holdings in Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after acquiring an additional 6,793 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after acquiring an additional 59,503 shares during the period. Finally, Fiduciary Alliance LLC grew its holdings in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on KO shares. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Piper Sandler reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Trading Down 0.9 %

Shares of Coca-Cola stock opened at $68.85 on Monday. The stock has a 50 day moving average price of $63.02 and a two-hundred day moving average price of $66.36. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. 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 $296.59 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

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.