Diversify Wealth Management LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Diversify Wealth Management LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 61.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,947 shares of the company's stock after acquiring an additional 16,759 shares during the period. Diversify Wealth Management LLC's holdings in Coca-Cola were worth $2,684,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola in the 3rd quarter valued at $36,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola in the third quarter valued at $43,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated 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 completion of the sale, the chief executive officer now directly 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 filing with the SEC, which is available through the SEC website. Insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.51 during trading on Monday, hitting $62.76. 17,877,164 shares of the stock were exchanged, compared to its average volume of 13,543,682. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a market cap of $270.34 billion, a PE ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. The company has a fifty day moving average price of $62.69 and a two-hundred day moving average price of $66.45. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating 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 analysts' expectations of $11.61 billion. During the same quarter last year, the business posted $0.74 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. On average, analysts forecast 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 recent research reports. Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Piper Sandler initiated coverage on Coca-Cola in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $74.00 price target on the stock. 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 research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and boosted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Barclays cut 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. 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $72.13.

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.