CNB Bank reduced its holdings in The Coca-Cola Company (NYSE:KO – Free Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,218 shares of the company’s stock after selling 180 shares during the quarter. CNB Bank’s holdings in Coca-Cola were worth $1,010,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Quarry LP acquired a new stake in Coca-Cola in the second quarter worth $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the 3rd quarter valued at about $43,000. Finally, ORG Wealth Partners LLC acquired a new position in Coca-Cola during the 3rd quarter valued at about $58,000. 70.26% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on KO. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. UBS Group reduced their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Piper Sandler began coverage on Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price on the stock. Two equities research 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.60.
Coca-Cola Price Performance
NYSE:KO opened at $62.45 on Friday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The firm’s fifty day moving average price is $62.74 and its two-hundred day moving average price is $66.44. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market cap of $269.02 billion, a P/E ratio of 25.83, a P/E/G ratio of 3.35 and a beta of 0.61.
Coca-Cola (NYSE:KO – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) 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 the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. Equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.
Insider Activity at Coca-Cola
In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by corporate insiders.
About Coca-Cola
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.
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