WealthPlan Investment Management LLC Sells 8,950 Shares of The Coca-Cola Company (NYSE:KO)

WealthPlan Investment Management LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 54.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,466 shares of the company’s stock after selling 8,950 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Coca-Cola were worth $465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Investment Partners Asset Management Inc. raised its position in shares of Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after buying an additional 150 shares in the last quarter. Blossom Wealth Management raised its position in shares of Coca-Cola by 3.3% during the 3rd quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after buying an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its position in shares of Coca-Cola by 1.6% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock valued at $718,000 after buying an additional 159 shares in the last quarter. DeDora Capital Inc. raised its position in shares of Coca-Cola by 3.4% during the 3rd quarter. DeDora Capital Inc. now owns 4,902 shares of the company’s stock valued at $352,000 after buying an additional 160 shares in the last quarter. Finally, Freedom Day Solutions LLC raised its position in shares of Coca-Cola by 1.1% during the 3rd quarter. Freedom Day Solutions LLC now owns 14,229 shares of the company’s stock valued at $1,022,000 after buying an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Evercore ISI increased their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays raised their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $68.85 on Friday. The firm has a 50 day moving average of $63.02 and a 200 day moving average of $66.37. 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 firm has a market capitalization of $296.59 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 3.55 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.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. On average, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share 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.