Alpha Cubed Investments LLC Purchases 32,437 Shares of The Coca-Cola Company (NYSE:KO)

by · The Markets Daily

Alpha Cubed Investments LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 648,399 shares of the company’s stock after buying an additional 32,437 shares during the quarter. Coca-Cola makes up 1.8% of Alpha Cubed Investments LLC’s holdings, making the stock its 17th largest holding. Alpha Cubed Investments LLC’s holdings in Coca-Cola were worth $40,369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KO. Harvest Portfolios Group Inc. purchased a new position in Coca-Cola in the third quarter valued at about $18,383,000. Balentine LLC increased its holdings in shares of Coca-Cola by 92.4% during the third 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 in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares in the last quarter. Fiduciary Alliance LLC grew 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 valued at $1,132,000 after buying an additional 8,499 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $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.

Coca-Cola Stock Performance

NYSE:KO opened at $62.76 on Tuesday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a fifty day simple moving average of $62.69 and a two-hundred day simple moving average of $66.45. 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 company has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.43 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 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 for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the company earned $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Piper Sandler started coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target on the stock. Barclays dropped their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group dropped their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $72.13.

Check Out Our Latest Stock Report on KO

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

About Coca-Cola

(Free Report)

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.

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