The Coca-Cola Company (NYSE:KO) Shares Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 1.0% in the fourth quarter, HoldingsChannel reports. The fund owned 42,341 shares of the company’s stock after purchasing an additional 423 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Coca-Cola were worth $2,636,000 at the end of the most recent reporting period.

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

Coca-Cola Price Performance

Shares of KO opened at $62.76 on Friday. The business’s 50-day moving average is $62.71 and its 200-day moving average is $66.41. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a market capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue was down .8% compared to the same quarter last year. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KO. Barclays reduced their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research 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 research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. UBS Group decreased their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Piper Sandler began coverage on Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.13.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is owned by corporate insiders.

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.