Brooklyn Investment Group Sells 661 Shares of The Coca-Cola Company (NYSE:KO)

Brooklyn Investment Group lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 35,366 shares of the company’s stock after selling 661 shares during the period. Coca-Cola accounts for about 0.7% of Brooklyn Investment Group’s holdings, making the stock its 28th biggest holding. Brooklyn Investment Group’s holdings in Coca-Cola were worth $2,202,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in Coca-Cola by 9.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock worth $233,000 after buying an additional 329 shares during the last quarter. Seven Eight Capital LP acquired a new position in Coca-Cola during the second quarter worth approximately $995,000. Brighton Jones LLC increased its position in Coca-Cola by 1.8% during the second quarter. Brighton Jones LLC now owns 36,109 shares of the company’s stock worth $2,298,000 after buying an additional 631 shares during the last quarter. Ieq Capital LLC increased its position in Coca-Cola by 16.6% during the second quarter. Ieq Capital LLC now owns 169,651 shares of the company’s stock worth $10,798,000 after buying an additional 24,167 shares during the last quarter. Finally, Trust Investment Advisors acquired a new position in Coca-Cola during the second quarter worth approximately $312,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Barclays lowered their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Finally, Piper Sandler started coverage on Coca-Cola in a research report 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Stock Up 0.8 %

NYSE KO opened at $62.76 on Friday. The business has a fifty day moving average price of $62.71 and a two-hundred day moving average price of $66.41. 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 Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The stock has a market capitalization of $270.34 billion, a PE ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. 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 earned $0.74 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

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.