Pines Wealth Management LLC Makes New Investment in The Coca-Cola Company (NYSE:KO)

Pines Wealth Management LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,440 shares of the company’s stock, valued at approximately $332,000.

A number of other large investors also recently modified their holdings of KO. FMR LLC lifted its holdings in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP lifted its stake in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Coca-Cola in the 3rd quarter worth $269,382,000. Geode Capital Management LLC boosted its holdings in shares of Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its position in shares of Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

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 value of $6,403,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KO shares. Piper Sandler assumed coverage on Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target for the company. Wells Fargo & Company cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. TD Cowen raised 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 note on Wednesday, January 8th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Barclays decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Two 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.60.

Coca-Cola Price Performance

KO opened at $61.71 on Thursday. The business has a fifty day moving average of $62.78 and a 200 day moving average of $66.47. The stock has a market cap of $265.83 billion, a P/E ratio of 25.50, a PEG ratio of 3.83 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. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during 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%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

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.