Stillwater Capital Advisors LLC Raises Holdings in The Coca-Cola Company (NYSE:KO)

Stillwater Capital Advisors LLC increased its position in The Coca-Cola Company (NYSE:KO) by 1.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 200,897 shares of the company’s stock after acquiring an additional 3,632 shares during the quarter. Coca-Cola comprises 1.5% of Stillwater Capital Advisors LLC’s investment portfolio, making the stock its 28th largest holding. Stillwater Capital Advisors LLC’s holdings in Coca-Cola were worth $12,508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harvest Portfolios Group Inc. purchased a new stake in shares of Coca-Cola during the third quarter worth $18,383,000. Balentine LLC raised its stake in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares in the last quarter. Fiduciary Alliance LLC boosted its stake in Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays reduced their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company lowered their price objective 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. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft raised 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 report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $62.76 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 company has a fifty day moving average of $62.69 and a 200-day moving average of $66.40. The stock has a market capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

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.