Allen Mooney & Barnes Investment Advisors LLC Purchases 230 Shares of The Coca-Cola Company (NYSE:KO)

Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,382 shares of the company’s stock after buying an additional 230 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Coca-Cola were worth $2,576,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rockland Trust Co. boosted its position in Coca-Cola by 1.3% in the fourth quarter. Rockland Trust Co. now owns 208,086 shares of the company’s stock worth $12,955,000 after purchasing an additional 2,752 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of Coca-Cola by 2.0% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 95,530 shares of the company’s stock worth $5,948,000 after purchasing an additional 1,836 shares during the period. CCLA Investment Management raised its stake in shares of Coca-Cola by 22.7% during the 4th quarter. CCLA Investment Management now owns 2,472,226 shares of the company’s stock worth $153,970,000 after purchasing an additional 457,097 shares during the period. Community Trust & Investment Co. grew its position in Coca-Cola by 1.6% during the fourth quarter. Community Trust & Investment Co. now owns 53,072 shares of the company’s stock valued at $3,304,000 after buying an additional 852 shares during the period. Finally, Pines Wealth Management LLC purchased a new stake in Coca-Cola during the fourth quarter worth about $332,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Piper Sandler began coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.5 %

KO opened at $61.98 on Wednesday. The firm has a market capitalization of $267.00 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 3.83 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 company has a fifty day moving average price of $62.78 and a 200-day moving average price of $66.47. 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 issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. Equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.485 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.13%. Coca-Cola’s dividend payout ratio is presently 80.17%.

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.