Spire Wealth Management lowered its stake in The Coca-Cola Company (NYSE:KO – Get Rating) by 33.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 116,712 shares of the company's stock after selling 59,264 shares during the quarter. Spire Wealth Management's holdings in Coca-Cola were worth $6,538,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in KO. Paragon Wealth Strategies LLC purchased a new position in Coca-Cola in the 3rd quarter valued at $25,000. LFA Lugano Financial Advisors SA purchased a new position in Coca-Cola in the 2nd quarter valued at $34,000. Horizons Wealth Management purchased a new position in Coca-Cola in the 2nd quarter valued at $34,000. MBM Wealth Consultants LLC lifted its holdings in Coca-Cola by 298.9% in the 3rd quarter. MBM Wealth Consultants LLC now owns 730 shares of the company's stock valued at $41,000 after purchasing an additional 547 shares in the last quarter. Finally, Sycomore Asset Management purchased a new position in Coca-Cola in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 68.74% of the company's stock.
Get
Coca-Cola alerts:
Analysts Set New Price Targets
A number of research analysts have weighed in on KO shares. JPMorgan Chase & Co. set a $64.00 price objective on Coca-Cola in a report on Thursday, December 8th. UBS Group raised their price objective on Coca-Cola from $63.00 to $68.00 in a research report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $59.00 to $62.00 and gave the company a "hold" rating in a research report on Tuesday, December 6th. StockNews.com raised Coca-Cola from a "hold" rating to a "buy" rating in a research report on Wednesday, January 11th. Finally, Evercore ISI lowered their price objective on Coca-Cola to $68.00 in a research report on Thursday, October 20th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $66.90.
Insider Activity at Coca-Cola
In other news, insider Brian John Smith sold 126,972 shares of the firm's stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $62.07, for a total value of $7,881,152.04. Following the completion of the transaction, the insider now owns 116,168 shares in the company, valued at approximately $7,210,547.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through
this hyperlink. In related news, insider Brian John Smith sold 126,972 shares of the firm's stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $62.07, for a total value of $7,881,152.04. Following the completion of the sale, the insider now directly owns 116,168 shares in the company, valued at approximately $7,210,547.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at
the SEC website. Also, SVP Nancy Quan sold 13,746 shares of the firm's stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $61.12, for a total transaction of $840,155.52. Following the sale, the senior vice president now owns 184,710 shares of the company's stock, valued at $11,289,475.20. The disclosure for this sale can be found
here. Insiders sold a total of 276,986 shares of company stock worth $17,218,050 in the last quarter. Corporate insiders own 0.98% of the company's stock.
Coca-Cola Price Performance
Shares of KO traded down $0.10 on Thursday, hitting $60.83. The company's stock had a trading volume of 2,574,889 shares, compared to its average volume of 12,197,800. The company has a market capitalization of $263.06 billion, a PE ratio of 26.61, a PEG ratio of 3.82 and a beta of 0.57. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.13 and a quick ratio of 0.95. The Coca-Cola Company has a fifty-two week low of $54.01 and a fifty-two week high of $67.20. The company has a 50 day moving average price of $62.62 and a 200 day moving average price of $61.26.
Coca-Cola (NYSE:KO – Get Rating) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. Coca-Cola had a return on equity of 42.75% and a net margin of 23.44%. The company had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $10.60 billion. On average, research analysts anticipate that The Coca-Cola Company will post 2.48 earnings per share for the current fiscal year.
Coca-Cola Profile
(Get Rating)
The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.
Further Reading
- Get a free copy of the StockNews.com research report on Coca-Cola (KO)
- Levi Strauss Is A Good Fit For Income Investors
- 3 Small Caps That Have Big Upside
- Mullen Automotive: The Good News, The Bad And The Ugly Outlook
- Mergers and Acquisitions in 2023 Off To A Strong Start
- What Does Apple's Move to India Mean for Investors?
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO – Get Rating).
Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.
