The Coca-Cola Company (NYSE:KO) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,839 shares of the company’s stock after acquiring an additional 4,908 shares during the quarter. Procyon Advisors LLC’s holdings in Coca-Cola were worth $4,410,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Coca-Cola by 9.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after buying an additional 329 shares in the last quarter. Waterloo Capital L.P. lifted its position in Coca-Cola by 142.1% during the 2nd quarter. Waterloo Capital L.P. now owns 10,584 shares of the company’s stock worth $674,000 after acquiring an additional 6,213 shares during the last quarter. Seven Eight Capital LP bought a new position in Coca-Cola during the second quarter worth $995,000. Middleton & Co. Inc. MA raised its stake in Coca-Cola by 8.7% during the 2nd quarter. Middleton & Co. Inc. MA now owns 9,325 shares of the company’s stock valued at $594,000 after purchasing an additional 750 shares during the last quarter. Finally, Intrepid Financial Planning Group LLC bought a new stake in Coca-Cola in the 2nd quarter valued at $201,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Piper Sandler assumed coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target on the stock. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company 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 target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Barclays reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.60.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction 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 approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.8 %

NYSE:KO opened at $62.27 on Friday. The stock has a market cap of $268.23 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.35 and a beta of 0.61. 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 stock has a 50-day moving average price of $62.74 and a two-hundred day moving average price of $66.44. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

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 the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

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.