Simon Quick Advisors LLC Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Simon Quick Advisors LLC decreased its position in The Coca-Cola Company (NYSE:KO) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,938 shares of the company’s stock after selling 611 shares during the period. Simon Quick Advisors LLC’s holdings in Coca-Cola were worth $1,179,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of research reports. Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Piper Sandler began coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Barclays reduced their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Two research 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Down 0.5 %

NYSE KO opened at $62.39 on Wednesday. The stock has a market capitalization of $268.76 billion, a P/E ratio of 25.78, a P/E/G ratio of 3.43 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 firm has a 50-day moving average price of $62.67 and a 200 day moving average price of $66.45. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current 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.