McGlone Suttner Wealth Management Inc. Buys 1,359 Shares of The Coca-Cola Company (NYSE:KO)

McGlone Suttner Wealth Management Inc. lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,592 shares of the company’s stock after purchasing an additional 1,359 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Coca-Cola were worth $1,033,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Fred Alger Management LLC raised its stake in Coca-Cola by 7.5% in the second quarter. Fred Alger Management LLC now owns 102,078 shares of the company’s stock valued at $6,497,000 after buying an additional 7,160 shares during the period. Drucker Wealth 3.0 LLC bought a new stake in Coca-Cola in the 2nd quarter valued at $3,368,000. Delta Investment Management LLC lifted its holdings in Coca-Cola by 4.1% during the 2nd quarter. Delta Investment Management LLC now owns 7,114 shares of the company’s stock valued at $453,000 after purchasing an additional 283 shares during the last quarter. Daymark Wealth Partners LLC lifted its holdings in Coca-Cola by 5.6% during the 2nd quarter. Daymark Wealth Partners LLC now owns 224,335 shares of the company’s stock valued at $14,279,000 after purchasing an additional 11,904 shares during the last quarter. Finally, MBB Public Markets I LLC boosted its position in Coca-Cola by 1,716.8% during the second quarter. MBB Public Markets I LLC now owns 290,784 shares of the company’s stock worth $18,508,000 after purchasing an additional 274,779 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’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 directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

Coca-Cola stock opened at $61.54 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a fifty day moving average of $62.63 and a 200-day moving average of $66.40. The stock has a market capitalization of $265.08 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. On average, sell-side analysts expect 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 analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded 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 note on Thursday, December 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Barclays dropped their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lowered their price target 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. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.07.

Coca-Cola 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.