Secure Asset Management LLC Purchases 5,843 Shares of The Coca-Cola Company (NYSE:KO)

Secure Asset Management LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 20.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 34,868 shares of the company’s stock after purchasing an additional 5,843 shares during the quarter. Secure Asset Management LLC’s holdings in Coca-Cola were worth $2,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in KO. Fred Alger Management LLC lifted its position in shares of Coca-Cola by 7.5% during 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 in the last quarter. Drucker Wealth 3.0 LLC bought a new stake in Coca-Cola during the 2nd quarter worth approximately $3,368,000. Delta Investment Management LLC lifted its holdings in Coca-Cola by 4.1% during the second quarter. Delta Investment Management LLC now owns 7,114 shares of the company’s stock valued at $453,000 after purchasing an additional 283 shares in the last quarter. Daymark Wealth Partners LLC boosted its position in shares of Coca-Cola by 5.6% in the second quarter. Daymark Wealth Partners LLC now owns 224,335 shares of the company’s stock worth $14,279,000 after purchasing an additional 11,904 shares during the period. Finally, MBB Public Markets I LLC increased its stake in shares of Coca-Cola by 1,716.8% in the second quarter. MBB Public Markets I LLC now owns 290,784 shares of the company’s stock worth $18,508,000 after purchasing an additional 274,779 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on KO. Barclays dropped their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. TD Cowen upgraded 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. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Piper Sandler dropped 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 report on Thursday. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $72.07.

Coca-Cola Trading Down 0.4 %

Shares of NYSE KO opened at $61.54 on Friday. The stock has a market capitalization of $265.08 billion, a P/E ratio of 25.43, a PEG 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. The business’s 50 day moving average is $62.63 and its two-hundred day moving average is $66.40. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the company earned $0.74 earnings per share. Coca-Cola’s revenue was down .8% on a year-over-year basis. As a group, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.