Exchange Traded Concepts LLC Acquires 26,974 Shares of The Coca-Cola Company (NYSE:KO)

Exchange Traded Concepts LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 18.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,161 shares of the company’s stock after buying an additional 26,974 shares during the period. Exchange Traded Concepts LLC’s holdings in Coca-Cola were worth $10,594,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in KO. Quarry LP acquired a new position in Coca-Cola during the second quarter valued at 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. bought a new position in Coca-Cola in the 3rd quarter worth $36,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the 3rd quarter worth $43,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $37,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $64.03, for a total value 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 at the SEC website. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KO. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays lowered their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.07.

Coca-Cola Stock Up 0.2 %

NYSE KO opened at $61.67 on Friday. The stock’s 50 day simple moving average is $62.63 and its 200 day simple moving average is $66.40. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The firm has a market cap of $265.65 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 3.38 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 announced its 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 company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts forecast 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.