Guinness Atkinson Asset Management Inc Purchases 2,938 Shares of The Coca-Cola Company (NYSE:KO)

Guinness Atkinson Asset Management Inc boosted its position in The Coca-Cola Company (NYSE:KO) by 23.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,514 shares of the company’s stock after acquiring an additional 2,938 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Coca-Cola were worth $966,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its stake in Coca-Cola by 9.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after buying an additional 329 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Coca-Cola by 4.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 74,303 shares of the company’s stock worth $4,729,000 after acquiring an additional 3,264 shares during the period. Summit Trail Advisors LLC grew its position in shares of Coca-Cola by 3.0% in the second quarter. Summit Trail Advisors LLC now owns 21,816 shares of the company’s stock valued at $1,399,000 after purchasing an additional 629 shares in the last quarter. Kowal Investment Group LLC raised its stake in shares of Coca-Cola by 1.8% during the 2nd quarter. Kowal Investment Group LLC now owns 16,703 shares of the company’s stock valued at $1,063,000 after purchasing an additional 302 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in Coca-Cola by 2.2% during the 2nd quarter. ProShare Advisors LLC now owns 3,558,545 shares of the company’s stock worth $226,501,000 after purchasing an additional 75,186 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 the stock in a transaction that occurred 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 in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. UBS Group lowered their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays reduced their price target 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. Finally, Piper Sandler began 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. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $62.76 on Monday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The stock has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. The stock’s 50-day moving average is $62.69 and its 200 day moving average is $66.43. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS 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.