Stonebridge Capital Management Inc. Sells 1,025 Shares of The Coca-Cola Company (NYSE:KO)

Stonebridge Capital Management Inc. reduced its stake in The Coca-Cola Company (NYSE:KO) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,026 shares of the company’s stock after selling 1,025 shares during the period. Coca-Cola accounts for approximately 2.3% of Stonebridge Capital Management Inc.’s holdings, making the stock its 13th largest holding. Stonebridge Capital Management Inc.’s holdings in Coca-Cola were worth $5,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter worth $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at about $43,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at about $58,000. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 sale, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KO has been the topic of several recent research reports. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target 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, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $72.60.

Coca-Cola Stock Performance

Shares of KO opened at $61.71 on Thursday. 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 50-day moving average of $62.78 and a 200-day moving average of $66.47. The company has a market cap of $265.83 billion, a PE ratio of 25.50, a P/E/G ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating 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 analysts’ expectations of $11.61 billion. During the same quarter last year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS 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.