The Coca-Cola Company (NYSE:KO) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 48.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,000 shares of the company's stock after selling 49,200 shares during the quarter. Cohen Klingenstein LLC's holdings in Coca-Cola were worth $3,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of KO. FMR LLC lifted its holdings in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company's stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC grew its holdings in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock valued at $6,664,005,000 after buying an additional 2,966,964 shares during the last quarter. Legal & General Group Plc increased its position in Coca-Cola by 2.9% during the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock worth $2,463,373,000 after buying an additional 1,084,475 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock valued at $1,990,407,000 after acquiring an additional 1,609,565 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analyst Weigh In

KO has been the subject of several analyst reports. TD Cowen raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Morgan Stanley reduced their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Piper Sandler started coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They issued an "overweight" rating and a $74.00 target price for the company. 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 report on Tuesday, January 7th. Finally, Barclays dropped their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.13.

Coca-Cola Stock Up 0.8 %

KO traded up $0.51 during trading hours on Friday, reaching $62.76. 17,877,164 shares of the stock traded hands, compared to its average volume of 13,543,682. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The firm's fifty day simple moving average is $62.69 and its two-hundred day simple moving average is $66.40.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) 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 firm had revenue of $11.85 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The firm's quarterly revenue was down .8% on a year-over-year basis. As a group, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company'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 transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

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.