Astoria Portfolio Advisors LLC. raised its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 95.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,198 shares of the company’s stock after acquiring an additional 7,928 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in Coca-Cola were worth $1,005,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Smith Salley Wealth Management lifted its holdings in shares of Coca-Cola by 0.3% in the fourth quarter. Smith Salley Wealth Management now owns 60,135 shares of the company’s stock valued at $3,744,000 after purchasing an additional 202 shares in the last quarter. Financial Management Professionals Inc. raised its position in Coca-Cola by 8.4% in the 4th quarter. Financial Management Professionals Inc. now owns 11,450 shares of the company’s stock valued at $713,000 after buying an additional 890 shares during the last quarter. Krilogy Financial LLC lifted its stake in Coca-Cola by 6.7% in the 4th quarter. Krilogy Financial LLC now owns 10,964 shares of the company’s stock valued at $683,000 after acquiring an additional 690 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in Coca-Cola by 1.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 61,322 shares of the company’s stock worth $3,818,000 after acquiring an additional 1,166 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of Coca-Cola by 2.4% during the 4th quarter. HB Wealth Management LLC now owns 515,154 shares of the company’s stock worth $32,073,000 after acquiring an additional 12,214 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.
Insider Activity
In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is owned by company insiders.
Coca-Cola Trading Up 0.8 %
Coca-Cola (NYSE:KO – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during 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%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.
Analyst Ratings Changes
Several research analysts recently commented on KO shares. Piper Sandler began coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price for the company. Morgan Stanley reduced their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.
Check Out Our Latest Research Report on Coca-Cola
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.
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