The Coca-Cola Company (NYSE:KO) Shares Acquired by GSB Wealth Management LLC

GSB Wealth Management LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 18,931 shares of the company’s stock after purchasing an additional 482 shares during the period. GSB Wealth Management LLC’s holdings in Coca-Cola were worth $1,179,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola in the 3rd quarter valued at about $43,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola in the 4th quarter valued at about $37,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.7 %

Shares of NYSE:KO opened at $61.98 on Friday. 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 52-week low of $57.93 and a 52-week high of $73.53. The company has a 50 day moving average of $62.62 and a two-hundred day moving average of $66.36. The company has a market capitalization of $267.01 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the company earned $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. As a group, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on KO. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Piper Sandler decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Truist Financial increased their price objective 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. Finally, Wells Fargo & Company cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.07.

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.