Acadian Asset Management LLC lowered its holdings in shares of The Coca-Cola Co (NYSE:KO) by 22.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,702,485 shares of the company’s stock after selling 787,313 shares during the period. Acadian Asset Management LLC owned approximately 0.06% of The Coca-Cola worth $149,580,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price Wealth LLC acquired a new position in shares of The Coca-Cola during the fourth quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in The Coca-Cola during the 4th quarter valued at $31,000. Quantum Capital Management bought a new stake in The Coca-Cola during the 3rd quarter valued at $34,000. Candriam Luxembourg S.C.A. raised its holdings in The Coca-Cola by 1.0% during the third quarter. Candriam Luxembourg S.C.A. now owns 647,744 shares of the company’s stock worth $37,000 after buying an additional 6,373 shares during the last quarter. Finally, Simon Quick Advisors LLC raised its holdings in The Coca-Cola by 128.9% during the fourth quarter. Simon Quick Advisors LLC now owns 673 shares of the company’s stock worth $37,000 after buying an additional 379 shares during the last quarter. 67.58% of the stock is owned by institutional investors and hedge funds.
The Coca-Cola stock opened at $59.95 on Friday. The Coca-Cola Co has a fifty-two week low of $44.42 and a fifty-two week high of $60.07. The stock has a market cap of $256.00 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.66 and a beta of 0.41. The firm’s 50-day simple moving average is $56.94 and its 200 day simple moving average is $54.64. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.76.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.44 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The Coca-Cola had a net margin of 24.38% and a return on equity of 44.39%. The firm had revenue of $9.10 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same quarter last year, the business posted $0.43 EPS. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. As a group, analysts predict that The Coca-Cola Co will post 2.26 EPS for the current fiscal year.
A number of research analysts have recently issued reports on KO shares. Wells Fargo & Co set a $60.00 price objective on shares of The Coca-Cola and gave the company a “buy” rating in a report on Monday, October 21st. SunTrust Banks restated an “outperform” rating and issued a $65.00 target price on shares of The Coca-Cola in a report on Friday, January 31st. They noted that the move was a valuation call. Deutsche Bank raised their price target on shares of The Coca-Cola from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Evercore ISI reaffirmed a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a research report on Sunday, November 17th. Finally, JPMorgan Chase & Co. set a $60.00 price target on The Coca-Cola and gave the company a “neutral” rating in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $60.28.
In related news, COO Brian John Smith sold 25,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $56.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief operating officer now owns 139,302 shares in the company, valued at $7,800,912. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Nancy Quan sold 20,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $58.27, for a total transaction of $1,165,400.00. Following the transaction, the senior vice president now owns 185,049 shares of the company’s stock, valued at approximately $10,782,805.23. The disclosure for this sale can be found here. Insiders have sold 178,097 shares of company stock worth $9,887,839 over the last quarter. 1.33% of the stock is currently owned by corporate insiders.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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