Ellsworth Advisors LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Ellsworth Advisors LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,031 shares of the company’s stock after acquiring an additional 4,016 shares during the period. Coca-Cola accounts for 1.4% of Ellsworth Advisors LLC’s portfolio, making the stock its 22nd largest holding. Ellsworth Advisors LLC’s holdings in Coca-Cola were worth $5,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Apella Capital LLC boosted its stake in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after buying an additional 146 shares during the period. Investment Advisory Group LLC raised its stake in Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after acquiring an additional 146 shares during the last quarter. CCG Wealth Management LLC lifted its position in Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares during the period. Investment Partners Asset Management Inc. grew its stake in shares of Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the last quarter. Finally, Chapin Davis Inc. increased its holdings in shares of Coca-Cola by 1.0% in the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. 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 note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the 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 transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Up 0.8 %

Coca-Cola stock opened at $62.76 on Monday. The stock has a market cap of $270.34 billion, a PE ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week 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. The stock has a 50-day moving average price of $62.69 and a 200 day moving average price of $66.43.

Coca-Cola (NYSE:KO) last issued its quarterly 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the firm posted $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal 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.