The Coca-Cola Company (NYSE:KO) Stake Boosted by CX Institutional

CX Institutional boosted its position in The Coca-Cola Company (NYSE:KO - Free Report) by 17.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 125,314 shares of the company's stock after acquiring an additional 18,358 shares during the period. CX Institutional's holdings in Coca-Cola were worth $7,802,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Coca-Cola during the second quarter valued at about $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the third quarter valued at about $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the fourth quarter valued at about $37,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola during the third quarter valued at about $43,000. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

KO traded up $0.45 during trading on Friday, hitting $61.98. The company's stock had a trading volume of 19,239,216 shares, compared to its average volume of 16,740,990. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The business's fifty day simple moving average is $62.61 and its 200 day simple moving average is $66.37. 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.

Coca-Cola (NYSE:KO - Get Free Report) last announced 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 firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the business posted $0.74 earnings per share. The firm's revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on KO shares. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Piper Sandler cut their price objective on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a report on Thursday. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Barclays cut their target price on shares of Coca-Cola from $73.00 to $66.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $72.07.

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.