Wesbanco Bank Inc. Has $14.89 Million Stake in The Coca-Cola Company (NYSE:KO)

Wesbanco Bank Inc. lessened its holdings in The Coca-Cola Company (NYSE:KO) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 239,206 shares of the company’s stock after selling 3,359 shares during the quarter. Wesbanco Bank Inc.’s holdings in Coca-Cola were worth $14,893,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of KO. Janney Montgomery Scott LLC boosted its holdings in Coca-Cola by 7.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 1,610,776 shares of the company’s stock worth $100,287,000 after acquiring an additional 105,059 shares during the last quarter. Phillips Wealth Planners LLC grew its holdings in shares of Coca-Cola by 9.3% during the fourth quarter. Phillips Wealth Planners LLC now owns 3,717 shares of the company’s stock worth $227,000 after purchasing an additional 315 shares in the last quarter. Kelleher Financial Advisors boosted its stake in Coca-Cola by 2.0% in the fourth quarter. Kelleher Financial Advisors now owns 9,466 shares of the company’s stock worth $589,000 after buying an additional 189 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of Coca-Cola by 20.3% during the fourth quarter. Westside Investment Management Inc. now owns 5,271 shares of the company’s stock valued at $328,000 after purchasing an additional 888 shares during the period. Finally, Cetera Trust Company N.A boosted its stake in shares of Coca-Cola by 2.8% during the fourth quarter. Cetera Trust Company N.A now owns 30,221 shares of the company’s stock valued at $1,882,000 after purchasing an additional 830 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of several analyst reports. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. UBS Group lowered their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Barclays reduced their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Two equities research 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 stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Price Performance

KO stock opened at $61.78 on Thursday. The firm has a 50-day moving average of $62.66 and a two-hundred day moving average of $66.44. 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 market capitalization of $266.14 billion, a PE ratio of 25.53, a P/E/G ratio of 3.42 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

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, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now 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 document filed with the SEC, which is available at this link. 0.97% of the stock is currently 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.