Sterling Investment Counsel LLC Sells 28,378 Shares of The Coca-Cola Company (NYSE:KO)

Sterling Investment Counsel LLC lowered its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 70.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,985 shares of the company's stock after selling 28,378 shares during the period. Sterling Investment Counsel LLC's holdings in Coca-Cola were worth $746,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in KO. FMR LLC lifted its position in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP lifted its holdings in 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 purchasing an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Coca-Cola during the third quarter worth about $269,382,000. Geode Capital Management LLC lifted its holdings in shares of Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its position in Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company's stock worth $178,104,000 after acquiring an additional 2,443,612 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was 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 owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Performance

Shares of NYSE KO traded down $1.53 during mid-day trading on Tuesday, hitting $62.34. The company had a trading volume of 14,929,667 shares, compared to its average volume of 16,869,775. 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 firm's 50 day simple moving average is $62.66 and its two-hundred day simple moving average is $66.42. The stock has a market cap of $268.55 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KO. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and lifted their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler cut their price target on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company dropped their price target on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has an average rating of "Moderate Buy" and an average target price of $71.93.

Coca-Cola 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.