Wealth Alliance Advisory Group LLC Sells 1,031 Shares of The Coca-Cola Company (NYSE:KO)

Wealth Alliance Advisory Group LLC lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 7.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,013 shares of the company’s stock after selling 1,031 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Coca-Cola were worth $810,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in shares of Coca-Cola by 9.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock worth $233,000 after purchasing an additional 329 shares during the period. Seven Eight Capital LP bought a new stake in Coca-Cola during the 2nd quarter valued at $995,000. Brighton Jones LLC raised its holdings in Coca-Cola by 1.8% during the second quarter. Brighton Jones LLC now owns 36,109 shares of the company’s stock worth $2,298,000 after buying an additional 631 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Coca-Cola by 4.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 74,303 shares of the company’s stock valued at $4,729,000 after buying an additional 3,264 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in shares of Coca-Cola by 22.2% during the second quarter. Benjamin Edwards Inc. now owns 15,983 shares of the company’s stock valued at $1,017,000 after buying an additional 2,901 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO stock opened at $62.76 on Friday. The firm has a 50 day moving average of $62.69 and a 200-day moving average of $66.40. 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 firm has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the business earned $0.74 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on KO. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Wells Fargo & Company cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Piper Sandler initiated coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price for the company. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on 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 sale, 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 filing with the SEC, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

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.