Sicart Associates LLC Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Sicart Associates LLC reduced its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,907 shares of the company's stock after selling 4,880 shares during the period. Coca-Cola comprises 1.5% of Sicart Associates LLC's investment portfolio, making the stock its 27th largest position. Sicart Associates LLC's holdings in Coca-Cola were worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Harvest Portfolios Group Inc. purchased a new stake in shares of Coca-Cola during the third quarter worth about $18,383,000. Balentine LLC lifted its holdings in Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company's stock worth $2,048,000 after buying an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC grew its position in shares of Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock worth $8,351,000 after buying an additional 59,503 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Coca-Cola by 5.8% during the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock valued at $61,122,000 after buying an additional 46,541 shares during the period. Finally, Fiduciary Alliance LLC raised its holdings in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock valued at $1,132,000 after acquiring an additional 8,499 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction dated 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 owns 342,546 shares of the company's stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Stock Up 0.8 %

KO stock traded up $0.51 during trading on Friday, hitting $62.76. 17,877,164 shares of the stock traded hands, compared to its average volume of 16,116,259. The stock has a market cap 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 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 firm's 50 day moving average is $62.71 and its two-hundred day moving average is $66.41.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the company posted $0.74 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Analyst Ratings Changes

KO has been the topic of a number of research analyst reports. Piper Sandler initiated coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They set an "overweight" rating and a $74.00 price objective on the stock. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Wells Fargo & Company lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and upped their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Morgan Stanley lowered their target price 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. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.13.

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.