Procyon Advisors LLC Has $4.41 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Procyon Advisors LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,839 shares of the company’s stock after buying an additional 4,908 shares during the period. Procyon Advisors LLC’s holdings in Coca-Cola were worth $4,410,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Apella Capital LLC raised its holdings in shares of Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares in the last quarter. Investment Advisory Group LLC increased its holdings in shares of Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after buying an additional 146 shares during the last quarter. CCG Wealth Management LLC grew its position in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. raised its position in Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the period. Finally, Chapin Davis Inc. lifted its stake in shares of Coca-Cola by 1.0% in the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after purchasing an additional 153 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $62.27 on Friday. The firm has a market cap of $268.23 billion, a PE ratio of 25.73, a P/E/G ratio of 3.35 and a beta of 0.61. The business has a 50-day moving average price of $62.74 and a 200 day moving average price of $66.44. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results 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 business had revenue of $11.85 billion for the quarter, compared to analyst estimates 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 last year, the business earned $0.74 earnings per share. Sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KO has been the subject of a number of analyst reports. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. UBS Group reduced their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Piper Sandler assumed coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

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.