The Coca-Cola Company (NYSE:KO) Shares Bought by Sandy Cove Advisors LLC

Sandy Cove Advisors LLC increased its position in The Coca-Cola Company (NYSE:KO) by 3.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,203 shares of the company’s stock after acquiring an additional 684 shares during the period. Sandy Cove Advisors LLC’s holdings in Coca-Cola were worth $1,382,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. FMR LLC raised its position in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Geode Capital Management LLC increased its stake in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Legal & General Group Plc raised its holdings in Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after buying an additional 1,084,475 shares during the period. Wellington Management Group LLP lifted its stake in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after buying an additional 1,609,565 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Barclays decreased their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday. Truist Financial upped their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley decreased their price objective 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. Two 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.8 %

Shares of NYSE:KO opened at $62.76 on Friday. 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 stock has a market capitalization of $270.34 billion, a PE ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. The firm has a fifty day moving average price of $62.69 and a 200 day moving average price of $66.40. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

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. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. Analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

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.