Janney Capital Management LLC Trims Position in The Coca-Cola Company (NYSE:KO)

Janney Capital Management LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 1.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 47,378 shares of the company’s stock after selling 911 shares during the period. Janney Capital Management LLC’s holdings in Coca-Cola were worth $2,950,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its position in shares of 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 acquiring an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 bought a new position in Coca-Cola during the third quarter valued at $269,382,000. Geode Capital Management LLC raised its stake in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after acquiring an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC boosted its position in Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after buying an additional 2,443,612 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $61.84 on Wednesday. The firm has a market capitalization of $266.37 billion, a P/E ratio of 25.60, a PEG ratio of 3.43 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average price of $62.66 and a 200 day moving average price of $66.44.

Coca-Cola (NYSE:KO) last issued its 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the business posted $0.74 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

KO has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays dropped their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. UBS Group lowered their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Piper Sandler assumed coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective on the stock. Two research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.