Lmcg Investments LLC Sells 15,863 Shares of The Coca-Cola Company (NYSE:KO)

Lmcg Investments LLC cut its position in shares of The Coca-Cola Company (NYSE:KO) by 3.7% in the fourth quarter, according to 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 period. Coca-Cola accounts for about 1.6% of Lmcg Investments LLC’s investment portfolio, making the stock its 10th largest position. Lmcg Investments LLC’s holdings in Coca-Cola were worth $26,021,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in KO. Quarry LP bought a new stake in Coca-Cola in the second quarter worth $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola in the 3rd quarter valued at approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola during the fourth quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the third quarter valued at approximately $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KO. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $70.00 in a research note 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 note on Thursday, January 16th. 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 report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Trading Up 0.8 %

Shares of Coca-Cola stock opened at $62.76 on Tuesday. The company’s fifty day moving average price is $62.69 and its two-hundred day moving average price is $66.45. The firm has a market capitalization of $270.34 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.43 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last posted its quarterly 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 firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current 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.