The Coca-Cola Company (NYSE:KO) Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,958 shares of the company’s stock after selling 743 shares during the period. Coca-Cola makes up 0.9% of Cyndeo Wealth Partners LLC’s portfolio, making the stock its 28th biggest position. Cyndeo Wealth Partners LLC’s holdings in Coca-Cola were worth $12,885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Quarry LP acquired a new stake in Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the 3rd quarter worth about $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at about $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the third quarter worth about $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola 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 transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley cut their price objective 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. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company lowered their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.07.

Coca-Cola Stock Performance

Shares of KO stock opened at $61.98 on Friday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. 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 firm has a market capitalization of $267.01 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The business has a 50 day simple moving average of $62.62 and a 200 day simple moving average of $66.36.

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