MinichMacGregor Wealth Management LLC Takes Position in The Coca-Cola Company (NYSE:KO)

MinichMacGregor Wealth Management LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,920 shares of the company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter valued at about $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the third quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the third quarter worth about $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s 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 directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler started coverage on Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective on the stock. Truist Financial boosted 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. Wells Fargo & Company decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, 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 research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Price Performance

NYSE:KO opened at $61.78 on Thursday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock’s fifty day moving average is $62.63 and its two-hundred day moving average is $66.40. The company has a market capitalization of $266.14 billion, a P/E ratio of 25.53, a P/E/G ratio of 3.42 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data 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 firm 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%. Coca-Cola’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. Equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Company Profile

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.