Park Avenue Securities LLC Raises Position in The Coca-Cola Company (NYSE:KO)

Park Avenue Securities LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,080 shares of the company’s stock after buying an additional 10,971 shares during the period. Park Avenue Securities LLC’s holdings in Coca-Cola were worth $5,235,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KO. Quarry LP bought a new position in Coca-Cola during the 2nd quarter valued at $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the third quarter valued at about $36,000. MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola during the third quarter worth about $43,000. Finally, ORG Wealth Partners LLC bought a new stake in Coca-Cola in the 3rd quarter worth about $58,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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 shares were 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 directly owns 342,546 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.5 %

Coca-Cola stock opened at $61.71 on Thursday. The firm has a 50 day simple moving average of $62.78 and a 200 day simple moving average of $66.47. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The firm has a market capitalization of $265.83 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on KO. Piper Sandler initiated coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price on the stock. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Barclays cut their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.60.

About Coca-Cola

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.