Stratos Wealth Partners LTD. Reduces Stake in The Coca-Cola Company (NYSE:KO)

Stratos Wealth Partners LTD. cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,589 shares of the company’s stock after selling 884 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Coca-Cola were worth $8,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Hara Capital LLC purchased a new position in shares of Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the third quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola during the fourth quarter valued at approximately $37,000. MilWealth Group LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated 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 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. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.7 %

KO stock opened at $63.13 on Thursday. 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 firm has a 50-day moving average of $62.59 and a two-hundred day moving average of $66.36. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a market cap of $271.94 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 3.56 and a beta of 0.61.

Analyst Ratings Changes

Several equities analysts recently issued reports on KO shares. UBS Group decreased their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. 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 note on Wednesday, January 8th. Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two 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 has an average rating of “Moderate Buy” and a consensus target price 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.