Whitener Capital Management Inc. Buys 673 Shares of The Coca-Cola Company (NYSE:KO)

Whitener Capital Management Inc. increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,336 shares of the company’s stock after buying an additional 673 shares during the quarter. Whitener Capital Management Inc.’s holdings in Coca-Cola were worth $2,138,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth $27,000. Hara Capital LLC bought a new stake in Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the 3rd quarter worth about $36,000. MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the third quarter valued at approximately $43,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coca-Cola during the third quarter valued at approximately $58,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays reduced their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Morgan Stanley decreased their target price 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. Two investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.13.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.8 %

Shares of NYSE:KO opened at $62.76 on Friday. The company has a market cap of $270.34 billion, a price-to-earnings 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 firm has a fifty day moving average price of $62.71 and a two-hundred day moving average price of $66.41. 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 released its quarterly 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 firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the firm posted $0.74 EPS. The company’s revenue was down .8% compared to the same quarter last year. Analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

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.