The Coca-Cola Company (NYSE:KO) Shares Bought by Empirical Asset Management LLC

Empirical Asset Management LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 800.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,895 shares of the company’s stock after buying an additional 103,018 shares during the quarter. Empirical Asset Management LLC’s holdings in Coca-Cola were worth $7,216,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola during the third quarter worth about $43,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Coca-Cola during the third quarter worth about $58,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $62.27 on Friday. 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 52 week low of $57.93 and a 52 week high of $73.53. The firm’s 50 day moving average is $62.74 and its two-hundred day moving average is $66.44. The firm has a market capitalization of $268.23 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.35 and a beta of 0.61.

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

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on KO. Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.60.

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.