Diversify Advisory Services LLC Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Diversify Advisory Services LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,004 shares of the company’s stock after selling 14,101 shares during the period. Diversify Advisory Services LLC’s holdings in Coca-Cola were worth $4,825,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC bought a new stake in Coca-Cola in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the third quarter worth $36,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the third quarter valued at $43,000. Finally, Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.8 %

NYSE:KO opened at $62.76 on Monday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The firm has a 50-day simple moving average of $62.69 and a 200-day simple moving average of $66.43. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The firm has a market cap of $270.34 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted 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 analyst estimates of $11.61 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. Coca-Cola’s revenue was down .8% on a year-over-year basis. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction 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. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler began coverage on Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price for the company. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target 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.