Beaumont Financial Advisors LLC Lowers Position in The Coca-Cola Company (NYSE:KO)

Beaumont Financial Advisors LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 14.0% during the fourth quarter, HoldingsChannel reports. The firm owned 23,052 shares of the company’s stock after selling 3,749 shares during the period. Beaumont Financial Advisors LLC’s holdings in Coca-Cola were worth $1,435,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $62.39 on Wednesday. The stock has a market capitalization of $268.76 billion, a P/E ratio of 25.78, a P/E/G ratio of 3.43 and a beta of 0.61. The company’s fifty day moving average price is $62.67 and its 200 day moving average price is $66.45. 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 1 year low of $57.93 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly 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 during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Barclays reduced their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler began coverage on Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective for the company. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $72.13.

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.