The Coca-Cola Company (NYSE:KO) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 0.3% during the fourth quarter, HoldingsChannel reports. The fund owned 94,123 shares of the company’s stock after selling 278 shares during the quarter. Addenda Capital Inc.’s holdings in Coca-Cola were worth $5,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in Coca-Cola by 9.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after buying an additional 329 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Coca-Cola by 4.6% in the second quarter. EverSource Wealth Advisors LLC now owns 12,992 shares of the company’s stock valued at $867,000 after purchasing an additional 573 shares during the last quarter. Commonwealth Financial Services LLC grew its position in shares of Coca-Cola by 2.0% in the second quarter. Commonwealth Financial Services LLC now owns 12,852 shares of the company’s stock valued at $809,000 after purchasing an additional 250 shares during the last quarter. Certified Advisory Corp grew its position in shares of Coca-Cola by 0.5% in the second quarter. Certified Advisory Corp now owns 32,965 shares of the company’s stock valued at $2,098,000 after purchasing an additional 173 shares during the last quarter. Finally, Harmony Asset Management LLC grew its position in shares of Coca-Cola by 11.9% in the second quarter. Harmony Asset Management LLC now owns 18,984 shares of the company’s stock valued at $1,208,000 after purchasing an additional 2,013 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Coca-Cola stock opened at $62.76 on Tuesday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a market capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.43 and a beta of 0.61. 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 firm’s fifty day moving average price is $62.69 and its 200 day moving average price is $66.45.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company 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 firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. On average, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler assumed coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target on the stock. Barclays lowered their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday. UBS Group decreased their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Finally, Morgan Stanley decreased 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 investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Insiders Place Their Bets

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

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.