Sandy Cove Advisors LLC Grows Stock Position in The Coca-Cola Company (NYSE:KO)

Sandy Cove Advisors LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,203 shares of the company’s stock after acquiring an additional 684 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Coca-Cola were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in shares of Coca-Cola by 9.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after acquiring an additional 329 shares in the last quarter. Seven Eight Capital LP purchased a new position in Coca-Cola in the 2nd quarter valued at about $995,000. Brighton Jones LLC boosted its stake in shares of Coca-Cola by 1.8% during the 2nd quarter. Brighton Jones LLC now owns 36,109 shares of the company’s stock worth $2,298,000 after purchasing an additional 631 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Coca-Cola by 4.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 74,303 shares of the company’s stock valued at $4,729,000 after buying an additional 3,264 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in shares of Coca-Cola by 22.2% during the second quarter. Benjamin Edwards Inc. now owns 15,983 shares of the company’s stock valued at $1,017,000 after buying an additional 2,901 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on KO shares. Barclays cut their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. UBS Group lowered their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.13.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Trading Up 0.8 %

KO opened at $62.76 on Friday. 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’s 50 day moving average is $62.69 and its 200-day moving average is $66.40. The firm has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the firm posted $0.74 EPS. The firm’s revenue was down .8% compared to the same quarter last year. Analysts expect that The Coca-Cola Company will post 2.85 EPS 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.