Red Door Wealth Management LLC Acquires 1,589 Shares of The Coca-Cola Company (NYSE:KO)

Red Door Wealth Management LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 14.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,250 shares of the company’s stock after purchasing an additional 1,589 shares during the quarter. Red Door Wealth Management LLC’s holdings in Coca-Cola were worth $763,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Galvin Gaustad & Stein LLC grew its holdings in Coca-Cola by 0.9% during the 4th quarter. Galvin Gaustad & Stein LLC now owns 435,277 shares of the company’s stock worth $27,100,000 after acquiring an additional 3,814 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Coca-Cola by 3.3% during the fourth quarter. Avior Wealth Management LLC now owns 21,475 shares of the company’s stock valued at $1,337,000 after purchasing an additional 691 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its holdings in Coca-Cola by 3.3% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 7,171 shares of the company’s stock worth $446,000 after buying an additional 232 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new position in Coca-Cola in the 4th quarter valued at $244,000. Finally, Raleigh Capital Management Inc. increased its stake in shares of Coca-Cola by 11.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 31,855 shares of the company’s stock valued at $1,983,000 after buying an additional 3,317 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

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 value 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 approximately $21,933,220.38. This trade 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 accessible through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Down 0.4 %

Shares of NYSE:KO opened at $61.54 on Friday. The firm has a market cap of $265.08 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 3.42 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. The company’s fifty day simple moving average is $62.63 and its 200 day simple moving average is $66.40. 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 released its quarterly earnings results 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 the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

KO has been the topic of a number of research reports. Morgan Stanley cut 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. Barclays dropped their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Piper Sandler reduced their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group dropped their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.07.

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.