Atticus Wealth Management LLC Sells 3,489 Shares of The Coca-Cola Company (NYSE:KO)

Atticus Wealth Management LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,790 shares of the company’s stock after selling 3,489 shares during the period. Coca-Cola accounts for about 1.4% of Atticus Wealth Management LLC’s investment portfolio, making the stock its 12th biggest position. Atticus Wealth Management LLC’s holdings in Coca-Cola were worth $4,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Union Bancaire Privee UBP SA bought a new position in Coca-Cola in the fourth quarter valued at about $24,472,000. Apexium Financial LP lifted its position in Coca-Cola by 32.3% during the 4th quarter. Apexium Financial LP now owns 10,851 shares of the company’s stock valued at $676,000 after purchasing an additional 2,652 shares during the period. Capital Asset Advisory Services LLC grew its position in shares of Coca-Cola by 3.7% during the 4th quarter. Capital Asset Advisory Services LLC now owns 65,959 shares of the company’s stock worth $4,073,000 after buying an additional 2,331 shares during the period. Blue Trust Inc. raised its stake in shares of Coca-Cola by 185.5% during the fourth quarter. Blue Trust Inc. now owns 859,574 shares of the company’s stock worth $53,517,000 after buying an additional 558,505 shares during the last quarter. Finally, PFG Investments LLC grew its holdings in Coca-Cola by 12.4% during the 4th quarter. PFG Investments LLC now owns 78,673 shares of the company’s stock worth $4,898,000 after acquiring an additional 8,687 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated 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 owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several recent research reports. Barclays reduced 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, January 17th. Piper Sandler reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, UBS Group lowered their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Two equities research 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.07.

Coca-Cola Trading Up 0.7 %

Coca-Cola stock opened at $61.98 on Monday. 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 50-day moving average of $62.62 and a 200-day moving average of $66.39. The company has a market cap of $267.01 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

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.