The Coca-Cola Company (NYSE:KO) Shares Bought by Sky Investment Group LLC

Sky Investment Group LLC increased its stake in The Coca-Cola Company (NYSE:KO) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,153 shares of the company’s stock after acquiring an additional 3,791 shares during the period. Coca-Cola makes up approximately 1.6% of Sky Investment Group LLC’s investment portfolio, making the stock its 20th biggest position. Sky Investment Group LLC’s holdings in Coca-Cola were worth $8,601,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quarry LP bought a new stake in Coca-Cola in the second quarter worth about $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola in the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $62.76 on Tuesday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market capitalization of $270.34 billion, a PE ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The company’s 50 day moving average price is $62.69 and its 200 day moving average price is $66.45.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating 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 business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the company posted $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. Research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were 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 $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Barclays cut their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday. Wells Fargo & Company decreased their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Two research 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 company’s stock. According to MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

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.