MFA Wealth Services Takes Position in The Coca-Cola Company (NYSE:KO)

MFA Wealth Services bought a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, Holdings Channel.com reports. The firm bought 5,741 shares of the company’s stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Harvest Portfolios Group Inc. purchased a new stake in shares of Coca-Cola during the third quarter valued at approximately $18,383,000. Balentine LLC grew its holdings in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares during the period. Fiduciary Alliance LLC lifted its holdings in Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after buying an additional 8,499 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after purchasing an additional 46,541 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KO shares. UBS Group cut their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Barclays decreased their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.07.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $61.54 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. 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 stock has a market cap of $265.08 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The company’s 50-day moving average price is $62.63 and its two-hundred day moving average price is $66.40.

Coca-Cola (NYSE:KO) last released 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. 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%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. As a group, sell-side 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.