The Coca-Cola Company (NYSE:KO) Shares Sold by Shulman DeMeo Asset Management LLC

Shulman DeMeo Asset Management LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,646 shares of the company’s stock after selling 1,668 shares during the period. Coca-Cola comprises approximately 0.3% of Shulman DeMeo Asset Management LLC’s portfolio, making the stock its 26th largest position. Shulman DeMeo Asset Management LLC’s holdings in Coca-Cola were worth $1,099,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Apella Capital LLC lifted its position in shares of Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after acquiring an additional 146 shares during the period. Investment Advisory Group LLC lifted its stake in Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after purchasing an additional 146 shares during the last quarter. CCG Wealth Management LLC grew its position in Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. raised its holdings in Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after buying an additional 150 shares during the last quarter. Finally, Chapin Davis Inc. lifted its holdings in shares of Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Up 0.8 %

NYSE KO opened at $62.27 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock’s 50-day simple moving average is $62.74 and its two-hundred day simple moving average is $66.44. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a market capitalization of $268.23 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. Research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KO. Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Piper Sandler began coverage on Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.60.

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.