McGlone Suttner Wealth Management Inc. boosted its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 8.9% during the fourth quarter, HoldingsChannel reports. The fund owned 16,592 shares of the company’s stock after purchasing an additional 1,359 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Coca-Cola were worth $1,033,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Quarry LP acquired a new position in shares of Coca-Cola in the second quarter worth approximately $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the 3rd quarter valued at $36,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the third quarter worth $43,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at $37,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.
Coca-Cola Stock Down 0.4 %
Coca-Cola (NYSE:KO – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.
Analysts Set New Price Targets
KO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded 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 report on Thursday, December 12th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. UBS Group dropped their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Barclays reduced their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Piper Sandler dropped 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 report on Thursday. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.07.
Get Our Latest Report on Coca-Cola
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.
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