Goelzer Investment Management Inc. Decreases Stock Position in The Coca-Cola Company (NYSE:KO)

Goelzer Investment Management Inc. cut its stake in The Coca-Cola Company (NYSE:KO) by 34.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,295 shares of the company’s stock after selling 3,297 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Coca-Cola were worth $392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of KO. Quarry LP purchased a new position in Coca-Cola during the 2nd quarter valued at $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola in the third quarter worth about $36,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola in the 3rd quarter worth about $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO stock opened at $61.98 on Friday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The business’s fifty day simple moving average is $62.62 and its 200-day simple moving average is $66.36. 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 cap of $267.01 billion, a PE ratio of 25.61, a PEG ratio of 3.38 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS. Analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KO. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. UBS Group reduced their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Piper Sandler cut 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 Thursday. Finally, Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.07.

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.