HB Wealth Management LLC Grows Stock Holdings in The Coca-Cola Company (NYSE:KO)

HB Wealth Management LLC increased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 515,154 shares of the company's stock after acquiring an additional 12,214 shares during the quarter. HB Wealth Management LLC's holdings in Coca-Cola were worth $32,073,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research firms have weighed in on KO. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Piper Sandler assumed coverage on Coca-Cola in a research note on Tuesday, January 7th. They set an "overweight" rating and a $74.00 price objective on the stock. Wells Fargo & Company reduced their price target on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Barclays dropped their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an "overweight" rating for the company in a report on Friday. Finally, Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Two 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. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.13.

Coca-Cola Trading Up 0.8 %

Shares of NYSE KO traded up $0.51 during trading on Friday, reaching $62.76. The stock had a trading volume of 17,877,164 shares, compared to its average volume of 13,543,682. 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 company has a market cap of $270.34 billion, a P/E 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 business's 50-day moving average price is $62.69 and its 200-day moving average price is $66.40.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during 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 was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

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.