Tallon Kerry Patrick Purchases New Holdings in The Coca-Cola Company (NYSE:KO)

Tallon Kerry Patrick purchased a new stake in shares of The Coca-Cola Company (NYSE:KO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,896 shares of the company’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds also recently modified their holdings of KO. Apella Capital LLC boosted its holdings in shares of Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares during the period. Investment Advisory Group LLC raised its position in shares of Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after buying an additional 146 shares in the last quarter. CCG Wealth Management LLC raised its position in shares of Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after buying an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. raised its position in shares of Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after buying an additional 150 shares in the last quarter. Finally, Chapin Davis Inc. raised its position in shares of Coca-Cola by 1.0% in the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after buying an additional 153 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KO shares. Wells Fargo & Company lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler started coverage on Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective on the stock. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley lowered their price target on 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 analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.60.

Coca-Cola Stock Up 0.8 %

KO opened at $62.27 on Friday. The company has a market cap of $268.23 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.35 and a beta of 0.61. The business’s 50-day moving average price is $62.74 and its 200-day moving average price is $66.44. 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 Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate 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 company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. On average, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

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.