Steigerwald Gordon & Koch Inc. Grows Position in The Coca-Cola Company (NYSE:KO)

Steigerwald Gordon & Koch Inc. raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 222,199 shares of the company’s stock after acquiring an additional 1,098 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in Coca-Cola were worth $13,834,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after acquiring an additional 2,966,964 shares during the period. Legal & General Group Plc boosted its position in Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after purchasing an additional 1,084,475 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on KO. Wells Fargo & Company reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. TD Cowen upgraded 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. UBS Group cut their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Two investment 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 company’s stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $62.76 on Friday. The company has a market cap of $270.34 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. The firm’s fifty day moving average is $62.69 and its two-hundred day moving average is $66.40. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly 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 analyst estimates of $11.61 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Company 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.