The Coca-Cola Company (NYSE:KO) Position Trimmed by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC lowered its stake in The Coca-Cola Company (NYSE:KO) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 206,958 shares of the company’s stock after selling 743 shares during the period. Coca-Cola makes up about 0.9% of Cyndeo Wealth Partners LLC’s investment portfolio, making the stock its 28th largest holding. Cyndeo Wealth Partners LLC’s holdings in Coca-Cola were worth $12,885,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of KO. Quarry LP purchased a new position in shares of Coca-Cola in the second quarter worth approximately $27,000. Hara Capital LLC acquired a new position in Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the 3rd quarter worth approximately $36,000. MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the 3rd quarter valued at $43,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Piper Sandler decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday. Wells Fargo & Company dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays cut their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.07.

Coca-Cola Stock Performance

KO opened at $61.98 on Friday. The stock has a 50-day moving average of $62.62 and a 200-day moving average of $66.36. 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. The company has a market cap of $267.01 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

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

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.