Merit Financial Group LLC Buys 10,632 Shares of The Coca-Cola Company (NYSE:KO)

Merit Financial Group LLC boosted its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,793 shares of the company's stock after buying an additional 10,632 shares during the quarter. Merit Financial Group LLC's holdings in Coca-Cola were worth $6,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. FMR LLC lifted its stake in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company's stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC raised its position in Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Legal & General Group Plc raised its position in Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock valued at $2,463,373,000 after purchasing an additional 1,084,475 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Up 0.8 %

Coca-Cola stock traded up $0.51 during mid-day 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 Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The stock's 50-day simple moving average is $62.69 and its 200-day simple moving average is $66.43. The firm has a market capitalization of $270.34 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping 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 net margin of 22.45% and a return on equity of 44.01%. The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent research reports. Piper Sandler began coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They set an "overweight" rating and a $74.00 target price on the stock. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. 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 research report on Thursday. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Finally, Barclays lowered their price objective on Coca-Cola from $73.00 to $66.00 and set an "overweight" rating for the company in a research report on Friday. Two investment 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's stock. According to MarketBeat, Coca-Cola currently has an average rating of "Moderate Buy" and an average target price of $72.13.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The shares were 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 owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

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.