Daymark Wealth Partners LLC Has $13.93 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

by · The Markets Daily

Daymark Wealth Partners LLC decreased its position in The Coca-Cola Company (NYSE:KO – Free Report) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 223,781 shares of the company’s stock after selling 875 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Coca-Cola were worth $13,933,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Coca-Cola by 9.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock worth $233,000 after acquiring an additional 329 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Coca-Cola by 4.6% in the second quarter. EverSource Wealth Advisors LLC now owns 12,992 shares of the company’s stock worth $867,000 after purchasing an additional 573 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Coca-Cola by 105.8% during the second quarter. Public Sector Pension Investment Board now owns 120,309 shares of the company’s stock worth $7,658,000 after purchasing an additional 61,848 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Coca-Cola by 14.3% during the second quarter. Evergreen Capital Management LLC now owns 39,992 shares of the company’s stock worth $2,565,000 after purchasing an additional 4,999 shares during the last quarter. Finally, Providence Capital Advisors LLC increased its stake in shares of Coca-Cola by 1.3% in the second quarter. Providence Capital Advisors LLC now owns 43,807 shares of the company’s stock valued at $2,788,000 after buying an additional 544 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO opened at $62.39 on Wednesday. The stock has a market cap of $268.76 billion, a P/E ratio of 25.78, a P/E/G ratio of 3.43 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 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. The company has a fifty day simple moving average of $62.66 and a 200 day simple moving average of $66.44.

Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on KO shares. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Piper Sandler initiated coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target for the company. Wells Fargo & Company decreased 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. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Read Our Latest Analysis on KO

Coca-Cola Profile

(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.

See Also

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