Raleigh Capital Management Inc. Has $1.98 Million Holdings in The Coca-Cola Company (NYSE:KO)

Raleigh Capital Management Inc. grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 11.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 31,855 shares of the company’s stock after acquiring an additional 3,317 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Coca-Cola were worth $1,983,000 as of its most recent SEC filing.

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

Coca-Cola Stock Performance

Shares of KO stock opened at $61.78 on Thursday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The firm has a market capitalization of $266.14 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 3.42 and a beta of 0.61. The firm has a fifty day simple moving average of $62.63 and a two-hundred day simple moving average of $66.40. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KO. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Piper Sandler began coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target for the company. UBS Group reduced their price objective 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. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, 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. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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.