Penn Davis Mcfarland Inc. Decreases Position in The Coca-Cola Company (NYSE:KO)

Penn Davis Mcfarland Inc. reduced its stake in The Coca-Cola Company (NYSE:KO) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 84,488 shares of the company’s stock after selling 1,225 shares during the period. Penn Davis Mcfarland Inc.’s holdings in Coca-Cola were worth $5,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stokes Capital Advisors LLC grew its position in shares of Coca-Cola by 4.3% in the 4th quarter. Stokes Capital Advisors LLC now owns 102,647 shares of the company’s stock valued at $6,391,000 after buying an additional 4,248 shares during the last quarter. AHL Investment Management Inc. increased its position in shares of Coca-Cola by 0.6% during the fourth quarter. AHL Investment Management Inc. now owns 116,900 shares of the company’s stock worth $7,278,000 after purchasing an additional 701 shares in the last quarter. M.E. Allison & CO. Inc. purchased a new stake in shares of Coca-Cola in the 4th quarter valued at about $1,681,000. Diversify Wealth Management LLC boosted its position in shares of Coca-Cola by 61.6% in the 4th quarter. Diversify Wealth Management LLC now owns 43,947 shares of the company’s stock valued at $2,684,000 after purchasing an additional 16,759 shares during the period. Finally, Smart Money Group LLC grew its stake in Coca-Cola by 10.7% during the 4th quarter. Smart Money Group LLC now owns 11,059 shares of the company’s stock worth $689,000 after buying an additional 1,071 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $62.76 on Monday. The company has a market cap of $270.34 billion, a P/E ratio of 25.93, a price-to-earnings-growth 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 has a fifty day moving average of $62.69 and a two-hundred day moving average of $66.43. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company reduced their price objective 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. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays dropped 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. Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, 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 note on Wednesday, January 8th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction 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 of the company’s stock, valued at $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 available through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

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.