Exchange Traded Concepts LLC Purchases 26,974 Shares of The Coca-Cola Company (NYSE:KO)

Exchange Traded Concepts LLC increased its position in The Coca-Cola Company (NYSE:KO - Free Report) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 170,161 shares of the company's stock after purchasing an additional 26,974 shares during the quarter. Exchange Traded Concepts LLC's holdings in Coca-Cola were worth $10,594,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. CX Institutional lifted its position in shares of Coca-Cola by 17.2% in the fourth quarter. CX Institutional now owns 125,314 shares of the company's stock valued at $7,802,000 after buying an additional 18,358 shares during the last quarter. Sound Income Strategies LLC grew its stake in Coca-Cola by 16.4% in the 4th quarter. Sound Income Strategies LLC now owns 9,994 shares of the company's stock valued at $622,000 after buying an additional 1,408 shares during the last quarter. LexAurum Advisors LLC increased its stake in shares of Coca-Cola by 21.5% during the fourth quarter. LexAurum Advisors LLC now owns 6,343 shares of the company's stock worth $395,000 after purchasing an additional 1,122 shares during the period. Silver Lake Advisory LLC lifted its holdings in shares of Coca-Cola by 1.3% during the fourth quarter. Silver Lake Advisory LLC now owns 27,115 shares of the company's stock worth $1,688,000 after buying an additional 343 shares in the last quarter. Finally, MFA Wealth Services bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $357,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. UBS Group lowered their price objective on Coca-Cola from $82.00 to $72.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Piper Sandler cut their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $72.07.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.45 during midday trading on Friday, reaching $61.98. 19,239,652 shares of the company were exchanged, compared to its average volume of 16,741,768. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The stock has a market cap of $267.01 billion, a P/E ratio of 25.61, a PEG ratio of 3.38 and a beta of 0.61. 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 stock's 50-day moving average price is $62.61 and its 200-day moving average price is $66.37.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analysts' expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

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.