Beech Hill Advisors Inc. Has $3.05 Million Position in The Coca-Cola Company (NYSE:KO)

Beech Hill Advisors Inc. raised its stake in The Coca-Cola Company (NYSE:KO) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,957 shares of the company’s stock after buying an additional 217 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Coca-Cola were worth $3,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at about $27,000. Hara Capital LLC bought a new position in Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola in the third quarter worth approximately $43,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Coca-Cola during the 3rd quarter worth $58,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KO shares. Piper Sandler began coverage on Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised shares of 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. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lowered 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 raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Two investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.60.

Coca-Cola Stock Performance

Coca-Cola stock traded down $0.20 on Thursday, hitting $61.57. The company’s stock had a trading volume of 863,844 shares, compared to its average volume of 14,752,183. The company has a fifty day moving average price of $62.78 and a 200-day moving average price of $66.47. The firm has a market cap of $265.23 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the business posted $0.74 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the 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 $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 the SEC website. 0.97% of the stock is owned by corporate insiders.

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.