Park Avenue Securities LLC Has $5.24 Million Holdings in The Coca-Cola Company (NYSE:KO)

Park Avenue Securities LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 15.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,080 shares of the company’s stock after acquiring an additional 10,971 shares during the quarter. Park Avenue Securities LLC’s holdings in Coca-Cola were worth $5,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. Quarry LP acquired a new stake in shares of Coca-Cola during the second quarter valued at about $27,000. Hara Capital LLC bought a new position in Coca-Cola in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the 3rd quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the 3rd quarter worth approximately $43,000. Finally, ORG Wealth Partners LLC bought a new stake in Coca-Cola during the 3rd quarter worth approximately $58,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent research reports. Barclays cut their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.5 %

NYSE:KO opened at $61.71 on Thursday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $265.83 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 3.83 and a beta of 0.61. The firm has a fifty day simple moving average of $62.78 and a two-hundred day simple moving average of $66.47.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the business posted $0.74 EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts expect that The Coca-Cola Company will post 2.85 EPS 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.