Cornerstone Wealth Management LLC Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Cornerstone Wealth Management LLC raised its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,359 shares of the company's stock after purchasing an additional 4,288 shares during the quarter. Cornerstone Wealth Management LLC's holdings in Coca-Cola were worth $7,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. FMR LLC grew its position in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after buying an additional 11,206,995 shares during the period. Geode Capital Management LLC boosted its stake 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 worth $6,664,005,000 after acquiring an additional 2,966,964 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares during the period. Wellington Management Group LLP increased its stake in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling at Coca-Cola

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 transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.97% of the stock is owned by company insiders.

Coca-Cola Trading Up 0.7 %

Coca-Cola stock traded up $0.45 during trading on Friday, reaching $61.98. The company had a trading volume of 19,239,652 shares, compared to its average volume of 16,741,768. 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 firm has a market capitalization of $267.01 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The stock's 50 day moving average price is $62.61 and its two-hundred day moving average price is $66.37.

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 return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the firm posted $0.74 EPS. The business's revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler cut their price target on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research note on Thursday. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. UBS Group dropped their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and increased their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $72.07.

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.