Beacon Investment Advisory Services Inc. Purchases 232 Shares of The Coca-Cola Company (NYSE:KO)

Beacon Investment Advisory Services Inc. increased its position in shares of The Coca-Cola Company (NYSE:KO) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,171 shares of the company’s stock after buying an additional 232 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Coca-Cola were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. FMR LLC grew its stake in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 during the last quarter. Legal & General Group Plc grew its position in Coca-Cola by 2.9% in the second 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 in the last quarter. Wellington Management Group LLP increased its stake in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Coca-Cola by 6.1% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KO. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Wells Fargo & Company dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Truist Financial upped their price target 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 investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.07.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on 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 transaction, 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 hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.4 %

Shares of KO stock opened at $61.54 on Friday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a market capitalization of $265.08 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 3.42 and a beta of 0.61. The firm has a 50 day moving average price of $62.63 and a two-hundred day moving average price of $66.40. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

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

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.