Rovin Capital UT ADV Buys 819 Shares of The Coca-Cola Company (NYSE:KO)

Rovin Capital UT ADV raised its stake in The Coca-Cola Company (NYSE:KO) by 24.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,115 shares of the company’s stock after acquiring an additional 819 shares during the quarter. Rovin Capital UT ADV’s holdings in Coca-Cola were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of KO. Quarry LP bought a new position in Coca-Cola during the second quarter valued at $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the 3rd quarter worth about $36,000. MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola in the 3rd quarter valued at about $43,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Coca-Cola in the third quarter worth about $58,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.8 %

Shares of NYSE:KO opened at $62.27 on Friday. The firm has a market capitalization of $268.23 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The firm has a fifty day moving average of $62.74 and a 200 day moving average of $66.44.

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

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. UBS Group reduced their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday. Piper Sandler initiated coverage on Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Two 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, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $72.60.

Coca-Cola Company 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.