Lake Street Private Wealth LLC Has $340,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Lake Street Private Wealth LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 17.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,465 shares of the company’s stock after selling 1,123 shares during the period. Lake Street Private Wealth LLC’s holdings in Coca-Cola were worth $340,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the 3rd quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the 4th quarter valued at about $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the 3rd quarter worth approximately $43,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other 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 value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. UBS Group decreased their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company decreased 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. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Two investment 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Trading Up 0.8 %

Shares of KO opened at $62.76 on Friday. The business’s 50-day moving average price is $62.69 and its 200-day moving average price is $66.40. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock 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.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

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.