The Coca-Cola Company (NYSE:KO) Shares Sold by Monarch Capital Management Inc.

Monarch Capital Management Inc. reduced its position in shares of The Coca-Cola Company (NYSE:KOFree Report) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,542 shares of the company’s stock after selling 376 shares during the period. Coca-Cola accounts for about 1.8% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 18th largest position. Monarch Capital Management Inc.’s holdings in Coca-Cola were worth $6,509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Coca-Cola by 9.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after acquiring an additional 329 shares during the last quarter. Seven Eight Capital LP purchased a new position in Coca-Cola during the second quarter worth approximately $995,000. Brighton Jones LLC raised its stake in Coca-Cola by 1.8% during the second quarter. Brighton Jones LLC now owns 36,109 shares of the company’s stock worth $2,298,000 after purchasing an additional 631 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Coca-Cola by 4.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 74,303 shares of the company’s stock worth $4,729,000 after buying an additional 3,264 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Coca-Cola by 22.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 15,983 shares of the company’s stock worth $1,017,000 after buying an additional 2,901 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 0.8 %

Shares of NYSE:KO opened at $62.76 on Friday. The firm has a market cap of $270.34 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The company has a fifty day simple moving average of $62.69 and a 200 day simple moving average of $66.40. 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 Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KOGet Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the business 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 anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $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 is available at the SEC website. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KO shares. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. 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 report on Thursday, December 12th. Piper Sandler initiated coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective for the company. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Two equities 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Read Our Latest Stock Analysis on KO

Coca-Cola Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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