Heritage Financial Services LLC Sells 428 Shares of The Coca-Cola Company (NYSE:KO)

Heritage Financial Services LLC trimmed its position in The Coca-Cola Company (NYSE:KO) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,698 shares of the company’s stock after selling 428 shares during the quarter. Heritage Financial Services LLC’s holdings in Coca-Cola were worth $1,289,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the 3rd quarter worth about $36,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the 4th quarter valued at about $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the 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 $21,933,220.38. This 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 can be accessed through this link. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent research reports. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a research note on Thursday. Morgan Stanley reduced their price target 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. UBS Group dropped their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $64.05 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $275.90 billion, a P/E ratio of 26.47, a P/E/G ratio of 3.52 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock has a 50 day moving average of $62.65 and a 200-day moving average of $66.38.

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.