Lincoln Capital LLC Trims Position in The Coca-Cola Company (NYSE:KO)

Lincoln Capital LLC reduced its holdings in The Coca-Cola Company (NYSE:KO) by 0.6% during the 4th quarter, Holdings Channel reports. The fund owned 82,324 shares of the company’s stock after selling 485 shares during the period. Coca-Cola makes up about 1.1% of Lincoln Capital LLC’s holdings, making the stock its 21st largest holding. Lincoln Capital LLC’s holdings in Coca-Cola were worth $5,125,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler assumed coverage on Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target for the company. Wells Fargo & Company 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 7th. Barclays reduced their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Two research 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Stock Up 0.8 %

KO stock opened at $62.76 on Monday. The company has a market cap 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 firm has a 50-day moving average of $62.69 and a two-hundred day moving average of $66.43. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. 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 announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for 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 firm’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. As a group, analysts forecast 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 firm’s stock in a transaction on 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 sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.

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.