The Coca-Cola Company (NYSE:KO) Shares Bought by Carnegie Investment Counsel

Carnegie Investment Counsel grew its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,824 shares of the company's stock after acquiring an additional 7,336 shares during the quarter. Carnegie Investment Counsel's holdings in Coca-Cola were worth $5,592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tallon Kerry Patrick acquired a new position in Coca-Cola in the fourth quarter valued at $241,000. Beech Hill Advisors Inc. increased its stake in Coca-Cola by 0.4% during the fourth quarter. Beech Hill Advisors Inc. now owns 48,957 shares of the company's stock worth $3,048,000 after acquiring an additional 217 shares during the last quarter. BFI Infinity Ltd. acquired a new stake in Coca-Cola during the fourth quarter worth about $468,000. Hennion & Walsh Asset Management Inc. increased its stake in Coca-Cola by 5.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 79,416 shares of the company's stock worth $4,944,000 after acquiring an additional 4,249 shares during the last quarter. Finally, SignalPoint Asset Management LLC increased its stake in Coca-Cola by 2.9% during the fourth quarter. SignalPoint Asset Management LLC now owns 7,708 shares of the company's stock worth $480,000 after acquiring an additional 220 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the firm'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 sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.97% of the company's stock.

Coca-Cola Stock Performance

NYSE:KO traded up $0.51 during trading hours on Friday, reaching $62.76. 17,877,164 shares of the stock were exchanged, compared to its average volume of 13,543,682. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a 50 day simple moving average of $62.69 and a 200-day simple moving average of $66.40. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61.

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, topping analysts' consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for 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%. Coca-Cola's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on KO shares. Piper Sandler started coverage on Coca-Cola in a research note on Tuesday, January 7th. They set an "overweight" rating and a $74.00 price target for the company. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Barclays dropped their price target on Coca-Cola from $73.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Finally, Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $72.13.

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.