Grimes & Company Inc. Purchases 921 Shares of The Coca-Cola Company (NYSE:KO)

Grimes & Company Inc. grew its position in The Coca-Cola Company (NYSE:KO) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,392 shares of the company’s stock after buying an additional 921 shares during the period. Grimes & Company Inc.’s holdings in Coca-Cola were worth $1,456,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of KO. Geneos Wealth Management Inc. increased its position in shares of Coca-Cola by 0.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 32,641 shares of the company’s stock valued at $2,032,000 after acquiring an additional 190 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Coca-Cola by 0.6% in the 4th quarter. Fifth Third Bancorp now owns 1,672,567 shares of the company’s stock worth $104,134,000 after purchasing an additional 10,024 shares in the last quarter. Bennett Selby Investments LP raised its stake in shares of Coca-Cola by 2.2% in the fourth quarter. Bennett Selby Investments LP now owns 12,578 shares of the company’s stock worth $783,000 after purchasing an additional 273 shares during the last quarter. Atlas Private Wealth Advisors lifted its holdings in shares of Coca-Cola by 1.4% during the fourth quarter. Atlas Private Wealth Advisors now owns 29,730 shares of the company’s stock valued at $1,851,000 after purchasing an additional 413 shares in the last quarter. Finally, Eclectic Associates Inc. ADV boosted its position in shares of Coca-Cola by 1.0% during the fourth quarter. Eclectic Associates Inc. ADV now owns 27,379 shares of the company’s stock valued at $1,705,000 after buying an additional 277 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 0.7 %

Coca-Cola stock opened at $61.98 on Friday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The firm has a market capitalization of $267.01 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61. The firm has a 50 day moving average of $62.62 and a 200 day moving average of $66.36. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.74 earnings per share. As a group, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share 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 stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on KO. Wells Fargo & Company decreased 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 objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Finally, Barclays cut their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Two equities research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.07.

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.