Ritholtz Wealth Management Grows Position in The Coca-Cola Company (NYSE:KO)

Ritholtz Wealth Management boosted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,983 shares of the company's stock after purchasing an additional 5,649 shares during the quarter. Ritholtz Wealth Management's holdings in Coca-Cola were worth $4,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of KO. FMR LLC boosted its stake in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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 during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Coca-Cola in the 3rd quarter valued at $269,382,000. Geode Capital Management LLC grew its holdings in shares of Coca-Cola by 3.3% during the 3rd 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. Finally, Pathway Financial Advisers LLC raised its position in 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 purchasing an additional 2,443,612 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Barclays reduced their price objective 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 initiated 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. Wells Fargo & Company lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $72.13.

Coca-Cola Stock Up 0.8 %

KO stock traded up $0.51 during midday trading on Friday, hitting $62.76. The stock had a trading volume of 17,877,164 shares, compared to its average volume of 16,116,259. The business has a 50-day moving average of $62.71 and a two-hundred day moving average of $66.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

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, beating analysts' consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts' expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola's revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company's 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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company's stock.

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.