MinichMacGregor Wealth Management LLC Invests $244,000 in The Coca-Cola Company (NYSE:KO)

MinichMacGregor Wealth Management LLC bought a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,920 shares of the company’s stock, valued at approximately $244,000.

A number of other institutional investors have also recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth about $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the third quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the third quarter valued at approximately $43,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 1.0 %

Shares of KO stock opened at $61.78 on Thursday. The stock’s fifty day moving average price is $62.63 and its 200 day moving average price is $66.40. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a market cap of $266.14 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 3.42 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. UBS Group lowered 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. Piper Sandler started coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target on the stock. Barclays lowered their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, 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 research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on 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 directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.

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.