Guinness Asset Management LTD Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Guinness Asset Management LTD grew its position in The Coca-Cola Company (NYSE:KO - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,222,386 shares of the company's stock after acquiring an additional 160,349 shares during the quarter. Coca-Cola comprises about 3.8% of Guinness Asset Management LTD's portfolio, making the stock its 14th largest position. Guinness Asset Management LTD owned 0.07% of Coca-Cola worth $200,581,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KO. Massachusetts Financial Services Co. MA increased its stake in Coca-Cola by 9.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company's stock worth $233,000 after buying an additional 329 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Coca-Cola by 4.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 74,303 shares of the company's stock worth $4,729,000 after acquiring an additional 3,264 shares in the last quarter. Summit Trail Advisors LLC increased its position in shares of Coca-Cola by 3.0% during the second quarter. Summit Trail Advisors LLC now owns 21,816 shares of the company's stock worth $1,399,000 after acquiring an additional 629 shares during the period. Kowal Investment Group LLC raised its stake in shares of Coca-Cola by 1.8% during the second quarter. Kowal Investment Group LLC now owns 16,703 shares of the company's stock valued at $1,063,000 after acquiring an additional 302 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Coca-Cola by 2.2% in the second quarter. ProShare Advisors LLC now owns 3,558,545 shares of the company's stock valued at $226,501,000 after purchasing an additional 75,186 shares during the period. Institutional investors own 70.26% of the company's stock.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on KO shares. Piper Sandler began coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an "overweight" rating and a $74.00 price target for the company. UBS Group lowered their target price on Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a report on Thursday. Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. 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 note on Wednesday, January 8th. Finally, Barclays reduced their target price on shares of Coca-Cola from $73.00 to $66.00 and set an "overweight" rating for the company in a report on Friday. Two 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $72.13.

Coca-Cola Stock Up 0.8 %

KO opened at $62.76 on Monday. The company has a fifty day moving average of $62.69 and a two-hundred day moving average of $66.43. The stock has a market capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly 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 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 revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. On average, research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current 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.

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