Sterling Investment Counsel LLC Has $746,000 Stake in The Coca-Cola Company (NYSE:KO)

Sterling Investment Counsel LLC reduced its holdings in The Coca-Cola Company (NYSE:KO) by 70.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,985 shares of the company’s stock after selling 28,378 shares during the period. Sterling Investment Counsel LLC’s holdings in Coca-Cola were worth $746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harvest Portfolios Group Inc. bought a new stake in Coca-Cola during the third quarter worth $18,383,000. Balentine LLC increased its holdings in shares of Coca-Cola by 92.4% in 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 last quarter. Sheaff Brock Investment Advisors LLC raised its position 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 valued at $8,351,000 after purchasing an additional 59,503 shares during the period. Fiduciary Alliance LLC lifted its stake in shares of Coca-Cola by 87.7% during 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 last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after buying an additional 46,541 shares during the period. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KO. UBS Group cut their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays reduced their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Piper Sandler reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $72.07.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 3.1 %

Shares of NYSE KO opened at $63.84 on Tuesday. The company has a 50 day simple moving average of $62.62 and a 200 day simple moving average of $66.41. 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 Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm has a market cap of $275.03 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

About Coca-Cola

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.