Evermay Wealth Management LLC Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Evermay Wealth Management LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,104 shares of the company’s stock after selling 230 shares during the quarter. Evermay Wealth Management LLC’s holdings in Coca-Cola were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Harvest Portfolios Group Inc. bought a new position in Coca-Cola in the 3rd quarter valued at $18,383,000. Balentine LLC boosted its stake in shares of Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares during the last quarter. Fiduciary Alliance LLC increased its stake in Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after buying an additional 8,499 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KO. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. TD Cowen upgraded shares of 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. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, 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 report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Price Performance

Coca-Cola stock opened at $63.46 on Friday. The stock has a market capitalization of $273.38 billion, a P/E ratio of 26.22, a P/E/G ratio of 3.52 and a beta of 0.61. The company’s fifty day moving average price is $62.65 and its 200 day moving average price is $66.37. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was 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 owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.97% of the company’s stock.

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.