Mutual Advisors LLC Sells 4,736 Shares of The Coca-Cola Company (NYSE:KO)

Mutual Advisors LLC decreased its position in The Coca-Cola Company (NYSE:KO) by 6.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,613 shares of the company’s stock after selling 4,736 shares during the period. Mutual Advisors LLC’s holdings in Coca-Cola were worth $4,333,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KO. Fred Alger Management LLC lifted its position in Coca-Cola by 7.5% in the 2nd quarter. Fred Alger Management LLC now owns 102,078 shares of the company’s stock valued at $6,497,000 after acquiring an additional 7,160 shares in the last quarter. Drucker Wealth 3.0 LLC bought a new stake in shares of Coca-Cola in the second quarter valued at about $3,368,000. Delta Investment Management LLC boosted its position in shares of Coca-Cola by 4.1% during the second quarter. Delta Investment Management LLC now owns 7,114 shares of the company’s stock worth $453,000 after buying an additional 283 shares during the period. Daymark Wealth Partners LLC grew its holdings in shares of Coca-Cola by 5.6% during the second quarter. Daymark Wealth Partners LLC now owns 224,335 shares of the company’s stock worth $14,279,000 after buying an additional 11,904 shares in the last quarter. Finally, MBB Public Markets I LLC raised its position in Coca-Cola by 1,716.8% in the 2nd quarter. MBB Public Markets I LLC now owns 290,784 shares of the company’s stock valued at $18,508,000 after buying an additional 274,779 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on KO. Morgan Stanley reduced their price target 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. Barclays reduced their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Piper Sandler lowered their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” 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 price objective for the company in a research note on Wednesday, January 8th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Two investment 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, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.07.

Coca-Cola Stock Down 0.4 %

KO opened at $61.54 on Friday. The stock’s fifty day simple moving average is $62.63 and its 200 day simple moving average is $66.40. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The stock has a market cap of $265.08 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 3.42 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for 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 revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the 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 transaction, 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 hyperlink. 0.97% of the stock is owned by company insiders.

About Coca-Cola

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.