Annex Advisory Services LLC Increases Position in The Coca-Cola Company (NYSE:KO)

Annex Advisory Services LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,897 shares of the company’s stock after purchasing an additional 339 shares during the quarter. Annex Advisory Services LLC’s holdings in Coca-Cola were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. Quarry LP purchased a new stake in Coca-Cola in the second quarter worth about $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the third quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the fourth quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. TD Cowen upgraded shares of 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. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Piper Sandler initiated coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target on the stock. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company cut their price target 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. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Trading Up 0.8 %

Shares of NYSE:KO opened at $62.76 on Tuesday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a market cap of $270.34 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The stock has a 50 day moving average of $62.69 and a 200 day moving average of $66.45. 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. 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 analysts’ expectations of $11.61 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 directly 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 legal filing with the SEC, which is accessible through this link. 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.