Concurrent Investment Advisors LLC Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Concurrent Investment Advisors LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,496 shares of the company’s stock after selling 17,224 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Coca-Cola were worth $9,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Harvest Portfolios Group Inc. purchased a new position in Coca-Cola in the third quarter valued at $18,383,000. Balentine LLC increased its holdings in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the last quarter. Rice Partnership LLC increased its holdings in Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after buying an additional 6,793 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares during the last quarter. Finally, Fiduciary Alliance LLC grew its holdings in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $70.11 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company has a market cap of $302.00 billion, a P/E ratio of 28.38, a PEG ratio of 3.73 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a 50-day moving average price of $63.42 and a 200 day moving average price of $66.39.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KO. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. Finally, Barclays raised their price objective on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.82.

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.