Channel Wealth LLC Has $2.43 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Channel Wealth LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 15.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,988 shares of the company’s stock after selling 7,081 shares during the period. Channel Wealth LLC’s holdings in Coca-Cola were worth $2,427,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in Coca-Cola by 9.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after buying an additional 329 shares during the period. Waterloo Capital L.P. raised its stake in Coca-Cola by 142.1% in the second quarter. Waterloo Capital L.P. now owns 10,584 shares of the company’s stock valued at $674,000 after buying an additional 6,213 shares during the period. Seven Eight Capital LP bought a new position in shares of Coca-Cola during the second quarter worth approximately $995,000. Middleton & Co. Inc. MA lifted its holdings in Coca-Cola by 8.7% during the 2nd quarter. Middleton & Co. Inc. MA now owns 9,325 shares of the company’s stock worth $594,000 after purchasing an additional 750 shares during the last quarter. Finally, Intrepid Financial Planning Group LLC bought a new stake in Coca-Cola in the 2nd quarter valued at $201,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on KO. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. UBS Group dropped their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Piper Sandler started coverage on Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.60.

Insider Transactions at Coca-Cola

In other 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 approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $62.27 on Friday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market cap of $268.23 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.35 and a beta of 0.61. The firm has a 50 day simple moving average of $62.74 and a 200 day simple moving average of $66.44.

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