Allen Mooney & Barnes Investment Advisors LLC Raises Stock Holdings in The Coca-Cola Company (NYSE:KO)

Allen Mooney & Barnes Investment Advisors LLC boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 0.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 41,382 shares of the company’s stock after acquiring an additional 230 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Coca-Cola were worth $2,576,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Rockland Trust Co. raised its stake in shares of Coca-Cola by 1.3% during the fourth quarter. Rockland Trust Co. now owns 208,086 shares of the company’s stock valued at $12,955,000 after acquiring an additional 2,752 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Coca-Cola by 2.0% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 95,530 shares of the company’s stock valued at $5,948,000 after purchasing an additional 1,836 shares during the period. CCLA Investment Management increased its holdings in Coca-Cola by 22.7% during the 4th quarter. CCLA Investment Management now owns 2,472,226 shares of the company’s stock valued at $153,970,000 after purchasing an additional 457,097 shares during the period. Community Trust & Investment Co. raised its position in Coca-Cola by 1.6% during the 4th quarter. Community Trust & Investment Co. now owns 53,072 shares of the company’s stock valued at $3,304,000 after purchasing an additional 852 shares during the last quarter. Finally, Pines Wealth Management LLC purchased a new stake in Coca-Cola in the 4th quarter worth approximately $332,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent analyst reports. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.60.

Insider Transactions at Coca-Cola

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 value of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.5 %

NYSE KO opened at $61.98 on Wednesday. The stock has a market cap of $267.00 billion, a P/E ratio of 25.61, a P/E/G ratio of 3.83 and a beta of 0.61. The stock’s fifty day moving average price is $62.78 and its 200-day moving average price is $66.47. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued 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. 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 the consensus estimate of $11.61 billion. During the same period last year, the business posted $0.74 EPS. The company’s revenue was down .8% compared to the same quarter last year. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Friday, November 29th. Coca-Cola’s payout ratio is presently 80.17%.

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.