Davis Capital Management Has $1.74 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Davis Capital Management lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,940 shares of the company’s stock after selling 190 shares during the period. Coca-Cola makes up 1.4% of Davis Capital Management’s portfolio, making the stock its 19th biggest position. Davis Capital Management’s holdings in Coca-Cola were worth $1,740,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Portfolios Group Inc. acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC lifted its position in shares of Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after buying an additional 59,503 shares during the last quarter. Fiduciary Alliance LLC lifted its position in shares of Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after buying an additional 8,499 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KO shares. Morgan Stanley cut 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. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Barclays lowered their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. UBS Group lowered their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola 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. The trade was a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.5 %

NYSE KO opened at $62.39 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a market cap of $268.76 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 3.43 and a beta of 0.61. The business’s fifty day moving average is $62.67 and its 200 day moving average is $66.45.

Coca-Cola (NYSE:KO) last released its quarterly earnings data 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 company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the business posted $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts expect 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.