The Coca-Cola Company (NYSE:KO) Shares Sold by Partnership Wealth Management LLC

Partnership Wealth Management LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the company’s stock after selling 200 shares during the quarter. Partnership Wealth Management LLC’s holdings in Coca-Cola were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KO. InvesTrust acquired a new position in Coca-Cola during the fourth quarter valued at $5,463,000. Fulton Bank N.A. lifted its position in shares of Coca-Cola by 5.7% in the fourth quarter. Fulton Bank N.A. now owns 80,605 shares of the company’s stock worth $5,018,000 after purchasing an additional 4,317 shares in the last quarter. Park National Corp OH grew its position in Coca-Cola by 17.0% during the fourth quarter. Park National Corp OH now owns 465,638 shares of the company’s stock valued at $28,991,000 after purchasing an additional 67,604 shares in the last quarter. One Wealth Capital Management LLC acquired a new position in Coca-Cola in the 4th quarter valued at approximately $219,000. Finally, Strathmore Capital Advisors Inc. purchased a new stake in Coca-Cola in the 4th quarter worth approximately $455,000. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other 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 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday. Barclays cut 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 report on Friday, October 25th. TD Cowen upgraded 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. Piper Sandler began coverage on Coca-Cola in a research note on Tuesday. They set an “overweight” rating and a $74.00 price target for the company. Finally, Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.60.

Coca-Cola Price Performance

NYSE:KO traded up $0.89 on Wednesday, reaching $61.73. The stock had a trading volume of 14,091,077 shares, compared to its average volume of 14,640,376. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The stock has a fifty day moving average price of $63.15 and a 200-day moving average price of $66.55. 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 market capitalization of $265.92 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. Research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

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.