Smart Money Group LLC Buys 1,071 Shares of The Coca-Cola Company (NYSE:KO)

Smart Money Group LLC grew its position in The Coca-Cola Company (NYSE:KO) by 10.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,059 shares of the company’s stock after purchasing an additional 1,071 shares during the period. Smart Money Group LLC’s holdings in Coca-Cola were worth $689,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in KO. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola in the third quarter valued at about $36,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the 4th quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola in the 3rd quarter valued at about $43,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. 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. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Morgan Stanley dropped their target price 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. UBS Group lowered their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company cut their target price 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. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Price Performance

NYSE KO opened at $62.76 on Monday. The stock has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The business has a 50 day simple moving average of $62.69 and a 200 day simple moving average of $66.43. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last posted 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 company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred 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 owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.97% of the company’s stock.

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.