Red Door Wealth Management LLC Has $763,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Red Door Wealth Management LLC increased its stake in The Coca-Cola Company (NYSE:KO) by 14.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,250 shares of the company’s stock after purchasing an additional 1,589 shares during the quarter. Red Door Wealth Management LLC’s holdings in Coca-Cola were worth $763,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its position in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Wellington Management Group LLP grew its holdings in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Coca-Cola during the third quarter worth approximately $269,382,000. Geode Capital Management LLC raised its stake in Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC lifted its position in shares of Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after buying an additional 2,443,612 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

Coca-Cola stock opened at $61.54 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a market capitalization of $265.08 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 3.42 and a beta of 0.61. The stock has a fifty day moving average of $62.63 and a 200-day moving average of $66.40.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during 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%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

KO has been the topic of a number of research analyst reports. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. 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 report on Wednesday, January 8th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $72.07.

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.