Whitaker Myers Wealth Managers LTD. Makes New $371,000 Investment in The Coca-Cola Company (NYSE:KO)

Whitaker Myers Wealth Managers LTD. purchased a new position in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,962 shares of the company’s stock, valued at approximately $371,000.

Several other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Coca-Cola by 9.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after acquiring an additional 329 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Coca-Cola in the second quarter worth $995,000. Brighton Jones LLC grew its holdings in Coca-Cola by 1.8% in the second quarter. Brighton Jones LLC now owns 36,109 shares of the company’s stock worth $2,298,000 after purchasing an additional 631 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Coca-Cola by 4.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 74,303 shares of the company’s stock valued at $4,729,000 after buying an additional 3,264 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in shares of Coca-Cola by 22.2% during the second quarter. Benjamin Edwards Inc. now owns 15,983 shares of the company’s stock valued at $1,017,000 after buying an additional 2,901 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the 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 transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Piper Sandler began coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target on the stock. UBS Group decreased their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Barclays lowered their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday. 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 company’s stock. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Price Performance

Shares of NYSE KO opened at $62.76 on Friday. The firm’s 50 day simple moving average is $62.69 and its 200-day simple moving average is $66.40. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock has a market capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping 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 business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. The company’s quarterly revenue 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 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.