BluePath Capital Management LLC Acquires 6,071 Shares of The Coca-Cola Company (NYSE:KO)

BluePath Capital Management LLC increased its stake in The Coca-Cola Company (NYSE:KO) by 21.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 34,126 shares of the company’s stock after buying an additional 6,071 shares during the quarter. Coca-Cola makes up about 1.1% of BluePath Capital Management LLC’s portfolio, making the stock its 15th largest position. BluePath Capital Management LLC’s holdings in Coca-Cola were worth $2,104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. Sawyer & Company Inc grew its holdings in shares of Coca-Cola by 61.4% during the 4th quarter. Sawyer & Company Inc now owns 1,209 shares of the company’s stock valued at $75,000 after purchasing an additional 460 shares during the last quarter. Roble Belko & Company Inc grew its position in shares of Coca-Cola by 10,000.0% in the 4th quarter. Roble Belko & Company Inc now owns 1,010 shares of the company’s stock worth $63,000 after buying an additional 1,000 shares during the last quarter. ARS Wealth Advisors Group LLC increased its position in Coca-Cola by 121.0% during the 4th quarter. ARS Wealth Advisors Group LLC now owns 26,641 shares of the company’s stock valued at $1,659,000 after purchasing an additional 14,584 shares during the period. Cliftonlarsonallen Wealth Advisors LLC raised its stake in Coca-Cola by 17.9% in the fourth quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 38,440 shares of the company’s stock worth $2,393,000 after buying an additional 5,836 shares in the last quarter. Finally, Alken Asset Management Ltd purchased a new position in shares of Coca-Cola in the 4th quarter valued at approximately $689,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, 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 is available at this hyperlink. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

KO opened at $61.71 on Thursday. The firm has a 50 day moving average of $62.78 and a two-hundred day moving average of $66.47. The firm has a market capitalization of $265.83 billion, a PE ratio of 25.50, a P/E/G ratio of 3.35 and a beta of 0.61. 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 Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KO shares. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. 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 research report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler started coverage on Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price for the company. Two research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.60.

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.