Sard Wealth Management Group LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Sard Wealth Management Group LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,830 shares of the company’s stock after buying an additional 1,075 shares during the period. Coca-Cola makes up approximately 0.4% of Sard Wealth Management Group LLC’s portfolio, making the stock its 25th largest position. Sard Wealth Management Group LLC’s holdings in Coca-Cola were worth $612,000 as of its most recent SEC filing.

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

Coca-Cola Price Performance

KO stock opened at $62.27 on Friday. The company has a market cap of $268.23 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.35 and a beta of 0.61. 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 firm has a 50 day moving average of $62.74 and a 200-day moving average of $66.44. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 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 company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the business earned $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Truist Financial lifted their price objective 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. TD Cowen upgraded shares of 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 dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.60.

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.