Brooklyn Investment Group Sells 661 Shares of The Coca-Cola Company (NYSE:KO)

Brooklyn Investment Group lowered its position in The Coca-Cola Company (NYSE:KO) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,366 shares of the company’s stock after selling 661 shares during the quarter. Coca-Cola accounts for about 0.7% of Brooklyn Investment Group’s holdings, making the stock its 28th largest position. Brooklyn Investment Group’s holdings in Coca-Cola were worth $2,202,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $18,383,000. Balentine LLC lifted its position in shares of Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC lifted its position in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares during the period. CIBC Asset Management Inc lifted its position in shares of Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after buying an additional 46,541 shares during the period. Finally, Fiduciary Alliance LLC lifted its position in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after buying an additional 8,499 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. Piper Sandler began coverage on Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price for the company. UBS Group dropped their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday. Barclays dropped their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company dropped their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

KO stock opened at $62.76 on Friday. The business’s 50-day moving average price is $62.71 and its two-hundred day moving average price is $66.41. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market cap of $270.34 billion, a PE ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

About Coca-Cola

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.