The Coca-Cola Company (NYSE:KO) Holdings Lifted by Empirical Asset Management LLC

Empirical Asset Management LLC boosted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 800.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,895 shares of the company's stock after purchasing an additional 103,018 shares during the period. Empirical Asset Management LLC's holdings in Coca-Cola were worth $7,216,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in KO. Harvest Portfolios Group Inc. purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at about $18,383,000. Balentine LLC grew its position in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company's stock valued at $2,048,000 after acquiring an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock valued at $8,351,000 after purchasing an additional 59,503 shares during the period. CIBC Asset Management Inc lifted its position in shares of Coca-Cola by 5.8% during the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock worth $61,122,000 after purchasing an additional 46,541 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its stake in shares of Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock valued at $1,132,000 after purchasing an additional 8,499 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of NYSE:KO traded up $0.51 on Friday, reaching $62.76. 17,877,164 shares of the company's stock were exchanged, compared to its average volume of 16,116,259. The business's 50-day moving average is $62.71 and its two-hundred day moving average is $66.41. 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 Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The firm 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.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. Coca-Cola's quarterly revenue was down .8% on a year-over-year basis. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business'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 transaction, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KO shares. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and lifted their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. UBS Group reduced their price target on Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a report on Thursday. Piper Sandler initiated coverage on Coca-Cola in a research note on Tuesday, January 7th. They set an "overweight" rating and a $74.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $72.13.

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.