The Coca-Cola Company (NYSE:KO) Position Reduced by New Hampshire Trust

New Hampshire Trust trimmed its position in The Coca-Cola Company (NYSE:KO) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,283 shares of the company’s stock after selling 178 shares during the period. New Hampshire Trust’s holdings in Coca-Cola were worth $827,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired 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 during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the third quarter worth approximately $36,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the fourth quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the third quarter valued at $43,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $62.76 on Tuesday. The firm has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 3.43 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The business has a fifty day simple moving average of $62.69 and a 200 day simple moving average of $66.45.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KO. Piper Sandler began coverage on Coca-Cola in a report 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 lifted their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. TD Cowen raised shares of 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. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Wells Fargo & Company cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two equities research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.13.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.97% of the company’s stock.

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.