The Coca-Cola Company (NYSE:KO) Stock Position Lowered by Founders Capital Management LLC

Founders Capital Management LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,767 shares of the company’s stock after selling 659 shares during the period. Coca-Cola accounts for 1.5% of Founders Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Founders Capital Management LLC’s holdings in Coca-Cola were worth $8,453,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the third quarter valued at $36,000. MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola in the third quarter valued at about $43,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the 4th quarter worth about $37,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

NYSE:KO opened at $63.46 on Friday. 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 firm’s 50-day moving average is $62.65 and its 200-day moving average is $66.37. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a market cap of $273.38 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 3.52 and a beta of 0.61.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a research note on Thursday. 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 research note on Wednesday, January 8th. Barclays reduced their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. UBS Group lowered their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.13.

Insider Buying and Selling

In other Coca-Cola 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 transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is owned by company insiders.

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.