Cornerstone Wealth Management LLC Acquires 4,288 Shares of The Coca-Cola Company (NYSE:KO)

Cornerstone Wealth Management LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,359 shares of the company’s stock after acquiring an additional 4,288 shares during the period. Cornerstone Wealth Management LLC’s holdings in Coca-Cola were worth $7,307,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KO. Brighton Jones LLC raised its position in Coca-Cola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after purchasing an additional 4,591 shares during the period. Secure Asset Management LLC raised its position in Coca-Cola by 20.1% in the 4th quarter. Secure Asset Management LLC now owns 34,868 shares of the company’s stock worth $2,171,000 after purchasing an additional 5,843 shares during the period. Red Door Wealth Management LLC raised its position in Coca-Cola by 14.9% in the 4th quarter. Red Door Wealth Management LLC now owns 12,250 shares of the company’s stock worth $763,000 after purchasing an additional 1,589 shares during the period. Galvin Gaustad & Stein LLC raised its position in Coca-Cola by 0.9% in the 4th quarter. Galvin Gaustad & Stein LLC now owns 435,277 shares of the company’s stock worth $27,100,000 after purchasing an additional 3,814 shares during the period. Finally, Avior Wealth Management LLC raised its position in Coca-Cola by 3.3% in the 4th quarter. Avior Wealth Management LLC now owns 21,475 shares of the company’s stock worth $1,337,000 after purchasing an additional 691 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $61.54 on Friday. The company has a market cap of $265.08 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average of $62.63 and a two-hundred day moving average of $66.40.

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

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction 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 trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KO. Barclays reduced their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Two investment 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, the stock presently has an average rating of “Moderate Buy” and an average price target 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.