Sugar Maple Asset Management LLC Takes $43,000 Position in The Coca-Cola Company (NYSE:KO)

Sugar Maple Asset Management LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 696 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ballentine Partners LLC lifted its stake in Coca-Cola by 1.8% during the 4th quarter. Ballentine Partners LLC now owns 81,972 shares of the company’s stock valued at $5,104,000 after acquiring an additional 1,468 shares during the period. ZWJ Investment Counsel Inc. lifted its stake in Coca-Cola by 0.5% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 1,345,087 shares of the company’s stock valued at $83,745,000 after acquiring an additional 6,120 shares during the period. Abacus Wealth Partners LLC acquired a new stake in Coca-Cola during the 4th quarter valued at approximately $252,000. Sky Investment Group LLC lifted its stake in Coca-Cola by 2.8% during the 4th quarter. Sky Investment Group LLC now owns 138,153 shares of the company’s stock valued at $8,601,000 after acquiring an additional 3,791 shares during the period. Finally, Zhang Financial LLC lifted its stake in Coca-Cola by 7.0% during the 4th quarter. Zhang Financial LLC now owns 10,591 shares of the company’s stock valued at $659,000 after acquiring an additional 694 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of several analyst reports. UBS Group decreased their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upgraded shares of 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 research note on Thursday, December 12th. Morgan Stanley decreased their target price on shares of 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 initiated coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price for the company. Finally, Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.13.

Insiders Place Their Bets

In other Coca-Cola 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is currently owned by insiders.

Coca-Cola Trading Up 0.8 %

Shares of KO opened at $62.76 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The firm has a 50-day moving average price of $62.69 and a 200 day moving average price of $66.45. The firm has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.43 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola 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.