Essex Savings Bank Purchases 1,940 Shares of The Coca-Cola Company (NYSE:KO)

Essex Savings Bank increased its position in The Coca-Cola Company (NYSE:KO) by 10.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,520 shares of the company’s stock after purchasing an additional 1,940 shares during the quarter. Essex Savings Bank’s holdings in Coca-Cola were worth $1,278,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Quarry LP bought a new position in shares of Coca-Cola in the second quarter valued at about $27,000. Hara Capital LLC bought a new stake in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the 3rd quarter worth $36,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the third quarter worth $43,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Coca-Cola in the third quarter valued at about $58,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Down 0.5 %

Coca-Cola stock opened at $61.71 on Thursday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The business’s fifty day simple moving average is $62.78 and its two-hundred day simple moving average is $66.47. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $265.83 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the company earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

KO has been the topic of a number of recent research reports. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Barclays dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company reduced their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Two equities 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 company. According to data from MarketBeat.com, the stock has an average 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 that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.97% of the company’s stock.

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.