Ellsworth Advisors LLC Boosts Stake in The Coca-Cola Company (NYSE:KO)

Ellsworth Advisors LLC increased its holdings in The Coca-Cola Company (NYSE:KOFree Report) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,031 shares of the company’s stock after acquiring an additional 4,016 shares during the quarter. Coca-Cola makes up 1.4% of Ellsworth Advisors LLC’s portfolio, making the stock its 22nd biggest position. Ellsworth Advisors LLC’s holdings in Coca-Cola were worth $5,356,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. 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. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Wells Fargo & Company cut 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. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler assumed coverage on Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Read Our Latest Report on Coca-Cola

Coca-Cola Stock Up 0.8 %

KO stock opened at $62.76 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market cap of $270.34 billion, a PE ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The firm has a 50 day simple moving average of $62.69 and a 200 day simple moving average of $66.43.

Coca-Cola (NYSE:KOGet Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company posted $0.74 EPS. The company’s revenue was down .8% compared to the same quarter last year. Equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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