The Coca-Cola Company (NYSE:KO) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.4% during the fourth quarter, Holdings Channel reports. The firm owned 114,405 shares of the company’s stock after selling 1,678 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Coca-Cola were worth $7,123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. Flagship Harbor Advisors LLC increased its holdings in Coca-Cola by 4.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 34,188 shares of the company’s stock worth $2,129,000 after purchasing an additional 1,558 shares during the period. Toth Financial Advisory Corp raised its holdings in Coca-Cola by 3.2% in the fourth quarter. Toth Financial Advisory Corp now owns 96,492 shares of the company’s stock valued at $6,008,000 after acquiring an additional 2,953 shares in the last quarter. CFS Investment Advisory Services LLC lifted its stake in Coca-Cola by 6.8% in the fourth quarter. CFS Investment Advisory Services LLC now owns 45,933 shares of the company’s stock worth $2,860,000 after acquiring an additional 2,913 shares during the last quarter. GSB Wealth Management LLC grew its stake in shares of Coca-Cola by 2.6% during the fourth quarter. GSB Wealth Management LLC now owns 18,931 shares of the company’s stock worth $1,179,000 after purchasing an additional 482 shares in the last quarter. Finally, Grimes & Company Inc. lifted its holdings in Coca-Cola by 4.1% during the 4th quarter. Grimes & Company Inc. now owns 23,392 shares of the company’s stock worth $1,456,000 after buying an additional 921 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial increased 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. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Barclays dropped 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 note on Friday, January 17th. Wells Fargo & Company decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Piper Sandler dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.07.

Coca-Cola Stock Performance

Shares of KO stock opened at $61.98 on Friday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. 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 stock has a fifty day moving average price of $62.62 and a 200 day moving average price of $66.36. The stock has a market cap of $267.01 billion, a PE ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the company posted $0.74 EPS. The company’s revenue was down .8% on a year-over-year basis. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

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.