Janney Montgomery Scott LLC Buys 105,059 Shares of The Coca-Cola Company (NYSE:KO)

Janney Montgomery Scott LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,610,776 shares of the company’s stock after purchasing an additional 105,059 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Coca-Cola were worth $100,287,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of KO. Public Sector Pension Investment Board increased its position in Coca-Cola by 105.8% during the second quarter. Public Sector Pension Investment Board now owns 120,309 shares of the company’s stock worth $7,658,000 after acquiring an additional 61,848 shares during the period. Fred Alger Management LLC increased its holdings in Coca-Cola by 7.5% in the 2nd quarter. Fred Alger Management LLC now owns 102,078 shares of the company’s stock valued at $6,497,000 after buying an additional 7,160 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Coca-Cola in the 2nd quarter valued at about $2,851,000. AlTi Global Inc. increased its holdings in Coca-Cola by 3.1% in the 2nd quarter. AlTi Global Inc. now owns 86,390 shares of the company’s stock valued at $5,538,000 after buying an additional 2,596 shares during the period. Finally, Drucker Wealth 3.0 LLC bought a new position in Coca-Cola in the 2nd quarter valued at about $3,368,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Down 1.0 %

Shares of NYSE:KO opened at $61.78 on Thursday. The firm has a market cap of $266.14 billion, a P/E ratio of 25.53, a P/E/G ratio of 3.42 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The business has a fifty day simple moving average of $62.66 and a 200 day simple moving average of $66.44.

Coca-Cola (NYSE:KO) last announced its earnings results 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 during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. Analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on KO. Barclays decreased their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. UBS Group decreased their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler assumed coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective for the company. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.97% of the company’s stock.

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.