Brighton Jones LLC Acquires 4,591 Shares of The Coca-Cola Company (NYSE:KO)

Brighton Jones LLC lifted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,072 shares of the company's stock after buying an additional 4,591 shares during the quarter. Brighton Jones LLC's holdings in Coca-Cola were worth $2,433,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KO. Quarry LP purchased a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola during the 4th quarter worth $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the third quarter worth approximately $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of NYSE KO traded up $0.45 during trading hours on Friday, reaching $61.98. 19,239,652 shares of the stock were exchanged, compared to its average volume of 12,503,886. The stock's fifty day simple moving average is $62.62 and its 200 day simple moving average is $66.36. The firm has a market capitalization of $267.01 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 3.38 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 debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO - Get Free Report) last released its 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. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business's quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. Sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Analyst Ratings Changes

KO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Wells Fargo & Company cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. TD Cowen raised 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. Finally, UBS Group dropped their target price on Coca-Cola from $82.00 to $72.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.07.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 transaction, the chief executive officer now directly owns 342,546 shares of the company's stock, 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. Company insiders own 0.97% of the company's stock.

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.