The Coca-Cola Company (NYSE:KO) Stake Cut by Lmcg Investments LLC

Lmcg Investments LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,938 shares of the company's stock after selling 15,863 shares during the quarter. Coca-Cola comprises approximately 1.6% of Lmcg Investments LLC's holdings, making the stock its 10th largest position. Lmcg Investments LLC's holdings in Coca-Cola were worth $26,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of KO. FMR LLC boosted its position in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company's stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP raised its stake in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Coca-Cola during the third quarter valued at $269,382,000. Geode Capital Management LLC grew its stake in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after buying an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in shares of Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company's stock worth $178,104,000 after buying an additional 2,443,612 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on KO shares. Piper Sandler started coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an "overweight" rating and a $74.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. 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 report on Wednesday, January 8th. UBS Group lowered their price target on Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Finally, Wells Fargo & Company cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.13.

Coca-Cola Trading Down 0.5 %

Shares of Coca-Cola stock traded down $0.32 on Tuesday, hitting $62.39. 19,809,032 shares of the company traded hands, compared to its average volume of 16,429,904. 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 company has a market cap of $268.76 billion, a PE ratio of 25.78, a PEG ratio of 3.43 and a beta of 0.61. The stock's 50 day moving average price is $62.67 and its 200-day moving average price is $66.45. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

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

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.