Riversedge Advisors LLC Sells 305 Shares of The Coca-Cola Company (NYSE:KO)

Riversedge Advisors LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,247 shares of the company’s stock after selling 305 shares during the period. Riversedge Advisors LLC’s holdings in Coca-Cola were worth $264,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KO. FMR LLC increased its holdings in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC increased its holdings in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after purchasing an additional 1,084,475 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after buying an additional 1,609,565 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 completion of the sale, the chief executive officer now directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $62.76 on Friday. 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 company has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.35 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. The stock has a 50 day moving average of $62.69 and a 200-day moving average of $66.40.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during 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 company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on KO shares. UBS Group cut their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock 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 target price for the company in a report on Wednesday, January 8th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.13.

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.