Mitchell Mcleod Pugh & Williams Inc. Cuts Holdings in The Coca-Cola Company (NYSE:KO)

Mitchell Mcleod Pugh & Williams Inc. lowered its holdings in The Coca-Cola Company (NYSE:KO) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,770 shares of the company’s stock after selling 1,117 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Coca-Cola were worth $1,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Apella Capital LLC raised its holdings in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares in the last quarter. Investment Advisory Group LLC boosted its position in Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after purchasing an additional 146 shares during the period. CCG Wealth Management LLC boosted its holdings in shares of Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after buying an additional 149 shares during the period. Investment Partners Asset Management Inc. grew its position in shares of Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the last quarter. Finally, Chapin Davis Inc. increased its position in Coca-Cola by 1.0% in the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after buying an additional 153 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Up 0.8 %

NYSE:KO opened at $62.76 on Monday. The company has a market cap of $270.34 billion, a PE ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The stock has a 50-day simple moving average of $62.69 and a 200 day simple moving average of $66.43. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. During the same period last year, the company earned $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on KO shares. Barclays cut their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. UBS Group lowered 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. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Company 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.