Amplius Wealth Advisors LLC Lowers Position in The Coca-Cola Company (NYSE:KO)

Amplius Wealth Advisors LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,835 shares of the company’s stock after selling 214 shares during the period. Amplius Wealth Advisors LLC’s holdings in Coca-Cola were worth $550,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after acquiring an additional 2,966,964 shares during the period. Legal & General Group Plc grew its position in Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after acquiring an additional 1,084,475 shares in the last quarter. Wellington Management Group LLP increased its stake in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, 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 available at the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KO shares. UBS Group cut their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Piper Sandler began coverage on Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Trading Up 0.8 %

NYSE KO opened at $62.76 on Tuesday. 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 capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm’s fifty day moving average price is $62.69 and its 200 day moving average price is $66.45.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping 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 business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

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.