Brighton Jones LLC Buys 4,591 Shares of The Coca-Cola Company (NYSE:KO)

Brighton Jones LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 13.3% in the fourth quarter, Holdings Channel reports. The firm owned 39,072 shares of the company’s stock after acquiring an additional 4,591 shares during the quarter. Brighton Jones LLC’s holdings in Coca-Cola were worth $2,433,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KO. Quarry LP bought a new position in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the 3rd quarter worth approximately $43,000. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Piper Sandler dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Two equities research 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 stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $72.07.

Coca-Cola Trading Up 0.7 %

Shares of KO stock opened at $61.98 on Friday. The firm has a market capitalization of $267.01 billion, a P/E ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. 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 stock’s fifty day simple moving average is $62.61 and its 200 day simple moving average is $66.37.

Coca-Cola (NYSE:KO) last released 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 return on equity of 44.01% and a net margin of 22.45%. The firm 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 company posted $0.74 EPS. The business’s revenue was down .8% on a year-over-year basis. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.

About Coca-Cola

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.