The Coca-Cola Company (NYSE:KO) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lowered its stake in The Coca-Cola Company (NYSE:KO) by 22.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 47,061 shares of the company’s stock after selling 13,937 shares during the quarter. Asset Dedication LLC’s holdings in Coca-Cola were worth $2,930,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KO. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter worth about $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth about $36,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth about $43,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other 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 completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KO shares. JPMorgan Chase & Co. dropped their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Piper Sandler dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Barclays dropped their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company dropped their price target 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. Finally, Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Two 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.93.

Coca-Cola Stock Down 2.4 %

Coca-Cola stock opened at $62.34 on Wednesday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a market cap of $268.55 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The stock’s 50 day moving average price is $62.65 and its 200 day moving average price is $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.

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.