Procyon Advisors LLC Buys 4,908 Shares of The Coca-Cola Company (NYSE:KO)

Procyon Advisors LLC increased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,839 shares of the company's stock after acquiring an additional 4,908 shares during the period. Procyon Advisors LLC's holdings in Coca-Cola were worth $4,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KO. FMR LLC raised its position 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 worth $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Coca-Cola in the 3rd quarter worth approximately $269,382,000. Geode Capital Management LLC raised its position in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its position in shares of Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company's stock worth $178,104,000 after acquiring an additional 2,443,612 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the firm's 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 transaction, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on KO shares. Wells Fargo & Company cut their price target on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. UBS Group cut their price target on Coca-Cola from $82.00 to $72.00 and set a "buy" rating on the stock in a research note on Thursday. Barclays cut their price target on Coca-Cola from $73.00 to $66.00 and set an "overweight" rating on the stock in a research note on Friday. Piper Sandler started coverage on Coca-Cola in a research note on Tuesday, January 7th. They issued an "overweight" rating and a $74.00 price target on the stock. Finally, 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 research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.13.

Coca-Cola Stock Up 0.8 %

KO traded up $0.51 during trading on Friday, hitting $62.76. 17,872,481 shares of the company's stock traded hands, compared to its average volume of 16,113,373. The company's 50 day simple moving average is $62.71 and its two-hundred day simple moving average is $66.41. 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 company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly 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 firm had revenue of $11.85 billion for 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 company's revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. Analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Company 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.