Cohen Klingenstein LLC Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Cohen Klingenstein LLC trimmed its position in The Coca-Cola Company (NYSE:KO) by 48.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,000 shares of the company’s stock after selling 49,200 shares during the period. Cohen Klingenstein LLC’s holdings in Coca-Cola were worth $3,238,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC lifted its position in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP increased its holdings in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Coca-Cola in the 3rd quarter valued at approximately $269,382,000. Geode Capital Management LLC lifted its stake in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its position in shares of Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after buying an additional 2,443,612 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the 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 sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.8 %

Shares of Coca-Cola stock opened at $62.76 on Friday. The company has a fifty day moving average price of $62.71 and a 200 day moving average price of $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 Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. Equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

KO has been the topic of several research analyst reports. Wells Fargo & Company decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler assumed 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 for the company. Barclays dropped their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Coca-Cola 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.