Mitchell Mcleod Pugh & Williams Inc. Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Mitchell Mcleod Pugh & Williams Inc. trimmed its position in The Coca-Cola Company (NYSE:KO) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,770 shares of the company’s stock after selling 1,117 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Coca-Cola were worth $1,542,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KO. Quarry LP purchased a new stake in Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola in the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola in the third quarter worth $43,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler started coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Price Performance

KO stock opened at $62.76 on Monday. The firm has a 50-day moving average of $62.69 and a 200 day moving average of $66.43. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market cap of $270.34 billion, a P/E ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

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.