CarsonAllaria Wealth Management Ltd. Sells 257 Shares of The Coca-Cola Company (NYSE:KO)

CarsonAllaria Wealth Management Ltd. lessened its stake in The Coca-Cola Company (NYSE:KO) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,065 shares of the company’s stock after selling 257 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Coca-Cola were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KO. Investment Advisory Group LLC lifted its stake in shares of Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after buying an additional 146 shares during the period. CCG Wealth Management LLC lifted its position in Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares during the period. Investment Partners Asset Management Inc. grew its stake in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the last quarter. Chapin Davis Inc. increased its holdings in shares of Coca-Cola by 1.0% in the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after purchasing an additional 153 shares during the period. Finally, Blossom Wealth Management raised its stake in shares of Coca-Cola by 3.3% in the third quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock worth $351,000 after purchasing an additional 155 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Down 1.1 %

NYSE KO opened at $62.68 on Wednesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $270.00 billion, a P/E ratio of 25.90, a PEG ratio of 3.56 and a beta of 0.61. The firm’s 50-day moving average is $62.62 and its two-hundred day moving average is $66.38. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Analyst Ratings Changes

Several brokerages have weighed in on KO. JPMorgan Chase & Co. cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was 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 directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

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.