Thrive Wealth Management LLC Sells 368 Shares of The Coca-Cola Company (NYSE:KO)

Thrive Wealth Management LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.3% in the fourth quarter, Holdings Channel reports. The fund owned 15,353 shares of the company’s stock after selling 368 shares during the period. Thrive Wealth Management LLC’s holdings in Coca-Cola were worth $956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KO. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in 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 third quarter worth about $36,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola during the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

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

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

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s 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 directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on KO shares. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. UBS Group cut their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays dropped their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Piper Sandler initiated coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.