Channel Wealth LLC Sells 7,081 Shares of The Coca-Cola Company (NYSE:KO)

Channel Wealth LLC reduced its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,988 shares of the company's stock after selling 7,081 shares during the period. Channel Wealth LLC's holdings in Coca-Cola were worth $2,427,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. KMG Fiduciary Partners LLC raised its stake in shares of Coca-Cola by 2.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 193,353 shares of the company's stock worth $12,038,000 after buying an additional 5,345 shares during the period. Decker Retirement Planning Inc. purchased a new position in Coca-Cola during the fourth quarter valued at approximately $114,000. Empirical Asset Management LLC boosted its position in shares of Coca-Cola by 800.0% in the fourth quarter. Empirical Asset Management LLC now owns 115,895 shares of the company's stock worth $7,216,000 after purchasing an additional 103,018 shares during the period. Cvfg LLC purchased a new stake in shares of Coca-Cola in the fourth quarter worth $565,000. Finally, Certified Advisory Corp raised its position in shares of Coca-Cola by 1.0% during the 4th quarter. Certified Advisory Corp now owns 33,190 shares of the company's stock valued at $2,066,000 after purchasing an additional 326 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.8 %

Shares of NYSE KO traded up $0.51 during trading hours on Friday, hitting $62.76. 12,842,814 shares of the company traded hands, compared to its average volume of 15,536,805. The company's 50 day moving average price is $62.71 and its 200 day moving average price is $66.41. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock has a market capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. UBS Group reduced their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $72.13.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction dated 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 directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.97% of the company's stock.

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.