Sard Wealth Management Group LLC Grows Position in The Coca-Cola Company (NYSE:KO)

Sard Wealth Management Group LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 12.3% during the 4th quarter, Holdings Channel reports. The fund owned 9,830 shares of the company’s stock after acquiring an additional 1,075 shares during the period. Coca-Cola comprises about 0.4% of Sard Wealth Management Group LLC’s portfolio, making the stock its 25th biggest position. Sard Wealth Management Group LLC’s holdings in Coca-Cola were worth $612,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Coca-Cola during the second quarter worth approximately $27,000. Hara Capital LLC acquired a new position in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the 3rd quarter worth $36,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the third quarter worth $43,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coca-Cola in the third quarter valued at $58,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on KO. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. UBS Group dropped their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Piper Sandler started coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price for the company. Finally, 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 research note on Friday, October 25th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

Coca-Cola Price Performance

Shares of KO stock opened at $62.27 on Friday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a market capitalization of $268.23 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. 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 firm has a fifty day simple moving average of $62.74 and a 200-day simple moving average of $66.44.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 firm earned $0.74 earnings per share. The company’s revenue was down .8% on a year-over-year basis. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal 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.