The Coca-Cola Company (NYSE:KO) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its position in shares of The Coca-Cola Company (NYSE:KO) by 5.7% during the 4th quarter, HoldingsChannel reports. The fund owned 79,416 shares of the company’s stock after acquiring an additional 4,249 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Coca-Cola were worth $4,944,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KO. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola in the third quarter valued at approximately $43,000. Finally, ORG Wealth Partners LLC acquired a new position in Coca-Cola during the 3rd quarter worth approximately $58,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Two 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.60.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.0 %

Shares of Coca-Cola stock opened at $61.74 on Thursday. 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 firm has a market cap of $265.96 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth 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 company’s 50-day simple moving average is $62.78 and its 200-day simple moving average is $66.47.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the business posted $0.74 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

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.