Novare Capital Management LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Novare Capital Management LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 22,146 shares of the company’s stock after acquiring an additional 188 shares during the quarter. Novare Capital Management LLC’s holdings in Coca-Cola were worth $1,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at approximately $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the third quarter worth about $36,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola in the 3rd quarter valued at $43,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola in the fourth quarter worth $37,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.7 %

KO opened at $61.98 on Friday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. 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 business has a 50 day simple moving average of $62.62 and a two-hundred day simple moving average of $66.36. The firm has a market capitalization of $267.01 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 3.38 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 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 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 firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. Analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on KO. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. UBS Group decreased their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Two research 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.07.

Insider Buying and Selling 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 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 $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.

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.