Legacy Trust Sells 571 Shares of The Coca-Cola Company (NYSE:KO)

Legacy Trust lowered its position in The Coca-Cola Company (NYSE:KO) by 13.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,832 shares of the company’s stock after selling 571 shares during the period. Legacy Trust’s holdings in Coca-Cola were worth $239,000 at the end of the most recent reporting period.

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

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company’s 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $62.86 on Thursday. The stock has a 50 day moving average of $62.65 and a 200 day moving average of $66.41. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The firm has a market cap of $270.77 billion, a PE ratio of 25.97, a PEG ratio of 3.38 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent research reports. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research report on Thursday. Piper Sandler reduced their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.13.

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.