HBW Advisory Services LLC Increases Position in The Coca-Cola Company (NYSE:KO)

11 Jan 2025, 10:32 by Mitch Edgeman · The Markets Daily

HBW Advisory Services LLC grew its holdings in The Coca-Cola Company (NYSE:KO – Free Report) by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,520 shares of the company’s stock after purchasing an additional 1,676 shares during the period. HBW Advisory Services LLC’s holdings in Coca-Cola were worth $842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in KO. Harbor Capital Advisors Inc. boosted its holdings in shares of Coca-Cola by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 55,243 shares of the company’s stock valued at $3,439,000 after purchasing an additional 1,354 shares during the period. ST Germain D J Co. Inc. raised its position in Coca-Cola by 17.4% during the 4th quarter. ST Germain D J Co. Inc. now owns 25,440 shares of the company’s stock valued at $1,584,000 after purchasing an additional 3,774 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Coca-Cola by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company’s stock worth $55,610,000 after buying an additional 8,810 shares during the period. InvesTrust bought a new position in shares of Coca-Cola during the 4th quarter worth $5,463,000. Finally, Fulton Bank N.A. increased its stake in shares of Coca-Cola by 5.7% during the fourth quarter. Fulton Bank N.A. now owns 80,605 shares of the company’s stock valued at $5,018,000 after buying an additional 4,317 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KO. Piper Sandler assumed coverage on shares of Coca-Cola in a research note on Tuesday. They issued an “overweight” rating and a $74.00 price objective for the company. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday. Finally, Wells Fargo & Company cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

Get Our Latest Stock Analysis on Coca-Cola

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 1.2 %

Shares of Coca-Cola stock opened at $60.98 on Friday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The firm’s 50 day simple moving average is $62.91 and its two-hundred day simple moving average is $66.46. 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 firm has a market capitalization of $262.69 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company 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%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. Analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.18%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

About Coca-Cola

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