Riversedge Advisors LLC Sells 305 Shares of The Coca-Cola Company (NYSE:KO)

Riversedge Advisors LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,247 shares of the company’s stock after selling 305 shares during the quarter. Riversedge Advisors LLC’s holdings in Coca-Cola were worth $264,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KO. Walker Financial Services Inc. raised its stake in Coca-Cola by 5.2% during the 4th quarter. Walker Financial Services Inc. now owns 29,653 shares of the company’s stock valued at $1,846,000 after purchasing an additional 1,472 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its position in shares of Coca-Cola by 95.9% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 16,198 shares of the company’s stock valued at $1,005,000 after buying an additional 7,928 shares during the last quarter. Smith Salley Wealth Management lifted its stake in shares of Coca-Cola by 0.3% in the fourth quarter. Smith Salley Wealth Management now owns 60,135 shares of the company’s stock valued at $3,744,000 after buying an additional 202 shares during the period. Financial Management Professionals Inc. lifted its stake in shares of Coca-Cola by 8.4% in the fourth quarter. Financial Management Professionals Inc. now owns 11,450 shares of the company’s stock valued at $713,000 after buying an additional 890 shares during the period. Finally, Krilogy Financial LLC increased its stake in Coca-Cola by 6.7% during the fourth quarter. Krilogy Financial LLC now owns 10,964 shares of the company’s stock valued at $683,000 after acquiring an additional 690 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $62.76 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The firm has a market cap of $270.34 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. 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 business’s fifty day moving average is $62.69 and its two-hundred day moving average is $66.40.

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

Insider Transactions at Coca-Cola

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KO. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. UBS Group reduced their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target 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 for the company in a report on Friday. Finally, Piper Sandler started coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, fifteen have issued 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 an average price target of $72.13.

Coca-Cola 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.