CFS Investment Advisory Services LLC Acquires 2,913 Shares of The Coca-Cola Company (NYSE:KO)

CFS Investment Advisory Services LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,933 shares of the company’s stock after purchasing an additional 2,913 shares during the period. CFS Investment Advisory Services LLC’s holdings in Coca-Cola were worth $2,860,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in Coca-Cola during the second quarter worth about $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the third quarter worth $36,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at $43,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the 4th quarter valued at $37,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Up 0.7 %

Shares of NYSE KO opened at $61.98 on Friday. The company’s 50 day moving average price is $62.62 and its 200-day moving average price is $66.36. 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 Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a market capitalization of $267.01 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group reduced their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Piper Sandler reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.07.

Insider Activity

In other Coca-Cola 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 sale, the chief executive officer now directly owns 342,546 shares in the company, 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 SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by company insiders.

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.