First United Bank & Trust Sells 968 Shares of The Coca-Cola Company (NYSE:KO)

First United Bank & Trust lessened its position in The Coca-Cola Company (NYSE:KO) by 15.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,240 shares of the company’s stock after selling 968 shares during the period. First United Bank & Trust’s holdings in Coca-Cola were worth $326,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quarry LP bought a new stake in shares of Coca-Cola in the second quarter worth about $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $62.76 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The stock has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.43 and a beta of 0.61. The firm’s 50-day moving average is $62.69 and its 200 day moving average is $66.45.

Coca-Cola (NYSE:KO) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. During the same period last year, the business posted $0.74 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KO. Barclays reduced their price objective 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. Wells Fargo & Company decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Truist Financial lifted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

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.