Smith Salley Wealth Management Buys 202 Shares of The Coca-Cola Company (NYSE:KO)

Smith Salley Wealth Management raised its position in shares of The Coca-Cola Company (NYSE:KO) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,135 shares of the company’s stock after purchasing an additional 202 shares during the period. Smith Salley Wealth Management’s holdings in Coca-Cola were worth $3,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in Coca-Cola by 9.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after buying an additional 329 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Coca-Cola in the second quarter worth $995,000. Brighton Jones LLC grew its position in shares of Coca-Cola by 1.8% in the second quarter. Brighton Jones LLC now owns 36,109 shares of the company’s stock valued at $2,298,000 after purchasing an additional 631 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Coca-Cola by 4.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 74,303 shares of the company’s stock valued at $4,729,000 after purchasing an additional 3,264 shares during the period. Finally, Benjamin Edwards Inc. lifted its holdings in Coca-Cola by 22.2% during the 2nd quarter. Benjamin Edwards Inc. now owns 15,983 shares of the company’s stock worth $1,017,000 after purchasing an additional 2,901 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction 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 $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $62.76 on Friday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The business has a fifty day simple moving average of $62.69 and a two-hundred day simple moving average of $66.40. The firm has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a P/E/G 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.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results 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 company had revenue of $11.85 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. On average, equities analysts forecast 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.