Turtle Creek Wealth Advisors LLC Increases Stake in CocaCola Company (The) $KO

Turtle Creek Wealth Advisors LLC boosted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 34.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 82,900 shares of the company’s stock after buying an additional 21,049 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in CocaCola were worth $5,498,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the period. Headlands Technologies LLC acquired a new stake in CocaCola in the 2nd quarter valued at about $26,000. Marquette Asset Management LLC purchased a new position in shares of CocaCola in the 3rd quarter valued at about $27,000. GFG Capital LLC acquired a new position in shares of CocaCola during the second quarter worth about $34,000. Finally, MMA Asset Management LLC purchased a new stake in shares of CocaCola during the second quarter worth approximately $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KO shares. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Cowen restated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. TD Cowen boosted their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. UBS Group reissued a “buy” rating on shares of CocaCola in a report on Friday, December 5th. Finally, Wells Fargo & Company lifted their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $79.08.

CocaCola Trading Down 0.1%

Shares of CocaCola stock opened at $70.44 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a fifty day simple moving average of $70.60 and a 200-day simple moving average of $69.32. The stock has a market cap of $303.01 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 3.62 and a beta of 0.39. CocaCola Company has a 12-month low of $61.37 and a 12-month high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $12.46 billion during the quarter, compared to analysts’ expectations of $12.46 billion. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. CocaCola’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 earnings per share. On average, equities analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other CocaCola news, EVP Manuel Arroyo sold 139,689 shares of CocaCola stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the transaction, the executive vice president owned 58,067 shares of the company’s stock, valued at $4,111,143.60. The trade was a 70.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 31,625 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the completion of the sale, the executive vice president owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. This represents a 12.40% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 225,252 shares of company stock worth $15,953,007. Corporate insiders own 0.90% of the company’s stock.

CocaCola Company Profile

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.