The Coca-Cola Company (NYSE:KO) Shares Purchased by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 2.9% in the 4th quarter, Holdings Channel reports. The firm owned 7,708 shares of the company’s stock after acquiring an additional 220 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Coca-Cola were worth $480,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new position in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the 3rd quarter valued at $36,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola in the 3rd quarter valued at $43,000. Finally, ORG Wealth Partners LLC acquired a new position in Coca-Cola in the 3rd quarter valued at $58,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $61.71 on Thursday. The business has a 50-day moving average of $62.78 and a 200 day moving average of $66.47. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock has a market capitalization of $265.83 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. 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 announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating 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 company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period 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 forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

KO has been the subject of a number of recent research reports. TD Cowen raised 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. Barclays cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Morgan Stanley cut their target price 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. Truist Financial raised 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. Finally, Wells Fargo & Company cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is owned by corporate insiders.

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.