The Coca-Cola Company (NYSE:KO) Stock Position Raised by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,189 shares of the company’s stock after acquiring an additional 691 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Coca-Cola were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Harvest Portfolios Group Inc. bought a new position in shares of Coca-Cola during the third quarter worth about $18,383,000. Balentine LLC boosted its stake in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC grew its position in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares during the last quarter. Fiduciary Alliance LLC increased its stake in shares of Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Coca-Cola by 5.8% during the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $62.76 on Friday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The stock’s 50-day moving average is $62.69 and its two-hundred day moving average is $66.40. 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 firm has a market cap of $270.34 billion, a P/E ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. UBS Group decreased their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday. Piper Sandler began coverage on Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target for the company. Barclays cut their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two equities research 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 company has a consensus rating of “Moderate Buy” and an average price target of $72.13.

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.