The Coca-Cola Company (NYSE:KO) Position Lessened by Constitution Capital LLC

Constitution Capital LLC lowered its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 38.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,144 shares of the company's stock after selling 32,100 shares during the period. Coca-Cola comprises 1.8% of Constitution Capital LLC's portfolio, making the stock its 17th largest holding. Constitution Capital LLC's holdings in Coca-Cola were worth $3,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of KO. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter worth about $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the third quarter worth approximately $43,000. Finally, ORG Wealth Partners LLC purchased a new position in Coca-Cola during the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Up 0.8 %

KO traded up $0.51 during trading on Friday, hitting $62.76. The company had a trading volume of 17,877,164 shares, compared to its average volume of 16,116,259. The company has a market cap of $270.34 billion, a PE ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. 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 Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The business has a 50-day moving average of $62.71 and a 200-day moving average of $66.41.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly 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 business had revenue of $11.85 billion for the quarter, compared to analysts' expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. As a group, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KO. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. UBS Group reduced their price objective on Coca-Cola from $82.00 to $72.00 and set a "buy" rating on the stock in a research note on Thursday. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Finally, Piper Sandler assumed coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $74.00 price objective for the company. 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.