Janney Capital Management LLC Has $2.95 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Janney Capital Management LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,378 shares of the company’s stock after selling 911 shares during the quarter. Janney Capital Management LLC’s holdings in Coca-Cola were worth $2,950,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KO. Harvest Portfolios Group Inc. bought a new position in Coca-Cola in the 3rd quarter valued at approximately $18,383,000. Balentine LLC increased its position in Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after acquiring an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after acquiring an additional 59,503 shares during the last quarter. Fiduciary Alliance LLC lifted its holdings in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after purchasing an additional 46,541 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at $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 available through this hyperlink. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $61.84 on Wednesday. The firm has a market cap of $266.37 billion, a P/E ratio of 25.60, a PEG ratio of 3.43 and a beta of 0.61. The company has a 50 day moving average of $62.66 and a 200 day moving average of $66.44. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The firm’s quarterly 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 fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KO shares. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. UBS Group decreased their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Truist Financial lifted their price objective 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. Barclays cut their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

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.