The Coca-Cola Company (NYSE:KO) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 16.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,994 shares of the company’s stock after purchasing an additional 1,408 shares during the quarter. Sound Income Strategies LLC’s holdings in Coca-Cola were worth $622,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fred Alger Management LLC raised its holdings in shares of Coca-Cola by 7.5% during the second quarter. Fred Alger Management LLC now owns 102,078 shares of the company’s stock valued at $6,497,000 after buying an additional 7,160 shares during the last quarter. MBB Public Markets I LLC increased its position in Coca-Cola by 1,716.8% in the 2nd quarter. MBB Public Markets I LLC now owns 290,784 shares of the company’s stock valued at $18,508,000 after acquiring an additional 274,779 shares during the period. The Manufacturers Life Insurance Company raised its stake in Coca-Cola by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,393,352 shares of the company’s stock valued at $152,337,000 after acquiring an additional 22,623 shares in the last quarter. Mackenzie Financial Corp boosted its position in Coca-Cola by 7.6% during the 2nd quarter. Mackenzie Financial Corp now owns 3,851,055 shares of the company’s stock worth $245,120,000 after acquiring an additional 272,896 shares during the period. Finally, Lummis Asset Management LP grew its stake in shares of Coca-Cola by 1.1% in the second quarter. Lummis Asset Management LP now owns 14,855 shares of the company’s stock worth $946,000 after purchasing an additional 167 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 0.7 %

KO stock opened at $61.98 on Friday. 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 firm has a market capitalization of $267.01 billion, a P/E ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company’s 50 day simple moving average is $62.61 and its 200-day simple moving average is $66.37.

Coca-Cola (NYSE:KO) last released its earnings results 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 company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Barclays decreased their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Piper Sandler lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.