Addenda Capital Inc. Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Addenda Capital Inc. decreased its position in The Coca-Cola Company (NYSE:KO) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,123 shares of the company’s stock after selling 278 shares during the period. Addenda Capital Inc.’s holdings in Coca-Cola were worth $5,860,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Quarry LP purchased a new stake in Coca-Cola during the second quarter worth $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the third quarter worth $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. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the 3rd quarter worth about $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $62.76 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a market capitalization of $270.34 billion, a PE ratio of 25.93, a P/E/G ratio of 3.43 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 $66.45.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating 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 company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the company posted $0.74 EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KO. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Barclays decreased their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.13.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.

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.