KMG Fiduciary Partners LLC Increases Position in The Coca-Cola Company (NYSE:KO)

KMG Fiduciary Partners LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 193,353 shares of the company’s stock after buying an additional 5,345 shares during the quarter. Coca-Cola accounts for about 1.0% of KMG Fiduciary Partners LLC’s investment portfolio, making the stock its 23rd biggest position. KMG Fiduciary Partners LLC’s holdings in Coca-Cola were worth $12,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter worth approximately $27,000. Hara Capital LLC bought a new position in Coca-Cola in the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the third quarter worth approximately $36,000. MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola during the 3rd quarter worth $43,000. Finally, ORG Wealth Partners LLC bought a new stake in Coca-Cola during the 3rd quarter valued at $58,000. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KO shares. TD Cowen raised 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. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Piper Sandler initiated coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target for the company. Barclays dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.60.

Coca-Cola Trading Up 0.8 %

Shares of NYSE:KO opened at $62.27 on Friday. The business’s 50-day moving average is $62.74 and its 200 day moving average is $66.44. 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 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 $268.23 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share. On average, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated 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 directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.

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.