The Coca-Cola Company (NYSE:KO) Holdings Raised by Magnus Financial Group LLC

Magnus Financial Group LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 14,517 shares of the company’s stock after purchasing an additional 548 shares during the period. Magnus Financial Group LLC’s holdings in Coca-Cola were worth $904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KO. Morgan Stanley reduced their price objective 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. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Finally, UBS Group dropped their price target 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, January 16th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 1.0 %

Shares of Coca-Cola stock opened at $61.78 on Thursday. The business has a fifty day simple moving average of $62.66 and a 200-day simple moving average of $66.44. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The firm has a market cap of $266.14 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 3.43 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the company earned $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. On average, equities analysts forecast 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.