Royal Fund Management LLC Purchases 7,313 Shares of The Coca-Cola Company (NYSE:KO)

Royal Fund Management LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 29.0% during the fourth quarter, Holdings Channel reports. The firm owned 32,493 shares of the company’s stock after acquiring an additional 7,313 shares during the period. Royal Fund Management LLC’s holdings in Coca-Cola were worth $2,027,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Apella Capital LLC increased its holdings in Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after buying an additional 146 shares during the last quarter. Investment Advisory Group LLC grew its position in shares of Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after acquiring an additional 146 shares during the period. CCG Wealth Management LLC increased its stake in shares of Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. raised its holdings in Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares during the period. Finally, Chapin Davis Inc. raised its holdings in Coca-Cola by 1.0% in the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after purchasing an additional 153 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 0.8 %

Shares of KO stock opened at $62.76 on Tuesday. 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 stock has a market capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.43 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The stock’s 50-day moving average price is $62.69 and its 200-day moving average price is $66.45.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for 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%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. Equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred 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 owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was 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 the SEC website. 0.97% of the stock is owned by 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.