Stokes Capital Advisors LLC Has $6.39 Million Position in The Coca-Cola Company (NYSE:KO)

Stokes Capital Advisors LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 4.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 102,647 shares of the company’s stock after purchasing an additional 4,248 shares during the quarter. Coca-Cola makes up 1.7% of Stokes Capital Advisors LLC’s holdings, making the stock its 27th largest position. Stokes Capital Advisors LLC’s holdings in Coca-Cola were worth $6,391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at about $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola during the fourth quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the third quarter worth $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on KO shares. Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Hsbc Global Res raised 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 set an “overweight” rating and a $74.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Stock Up 0.8 %

Shares of KO opened at $62.76 on Monday. The company has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The business’s 50 day simple moving average is $62.69 and its 200-day simple moving average is $66.43. 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 data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping 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 company 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 earnings per share. 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 Activity

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