M.E. Allison & CO. Inc. Invests $1.68 Million in The Coca-Cola Company (NYSE:KO)

M.E. Allison & CO. Inc. purchased a new position in The Coca-Cola Company (NYSE:KO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,008 shares of the company's stock, valued at approximately $1,681,000. Coca-Cola accounts for approximately 1.8% of M.E. Allison & CO. Inc.'s investment portfolio, making the stock its 12th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP raised its stake in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $269,382,000. Geode Capital Management LLC raised its position in shares of Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock valued at $6,664,005,000 after buying an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC lifted its holdings in Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company's stock valued at $178,104,000 after acquiring an additional 2,443,612 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays lowered their price target on Coca-Cola from $73.00 to $66.00 and set an "overweight" rating for the company in a report on Friday. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and lifted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler started coverage on Coca-Cola in a report on Tuesday, January 7th. They issued an "overweight" rating and a $74.00 price objective on the stock. Finally, Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Two 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's stock. According to data from MarketBeat, Coca-Cola has an average rating of "Moderate Buy" and an average target price of $72.13.

Coca-Cola Stock Up 0.8 %

KO traded up $0.51 during trading hours on Monday, reaching $62.76. 17,877,164 shares of the stock traded hands, compared to its average volume of 13,543,682. 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 cap of $270.34 billion, a price-to-earnings ratio of 25.93, a PEG 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. The firm's fifty day simple moving average is $62.69 and its two-hundred day simple moving average is $66.45.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 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 firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The firm's revenue was down .8% on a year-over-year basis. As a group, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction dated 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 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 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.