Ieq Capital LLC Sells 62,440 Shares of The Coca-Cola Company (NYSE:KO)

Ieq Capital LLC reduced its holdings in The Coca-Cola Company (NYSE:KO) by 33.0% in the fourth quarter, HoldingsChannel reports. The firm owned 126,573 shares of the company’s stock after selling 62,440 shares during the period. Ieq Capital LLC’s holdings in Coca-Cola were worth $7,880,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Howard Capital Management Group LLC increased its holdings in shares of Coca-Cola by 0.5% during the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after acquiring an additional 2,069 shares in the last quarter. Wallington Asset Management LLC increased its holdings in shares of Coca-Cola by 46.3% during the third quarter. Wallington Asset Management LLC now owns 4,693 shares of the company’s stock valued at $337,000 after acquiring an additional 1,485 shares in the last quarter. McAdam LLC increased its holdings in shares of Coca-Cola by 8.0% during the third quarter. McAdam LLC now owns 12,470 shares of the company’s stock valued at $896,000 after acquiring an additional 919 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Coca-Cola by 7,792.8% during the third quarter. International Assets Investment Management LLC now owns 1,744,302 shares of the company’s stock valued at $125,346,000 after acquiring an additional 1,722,202 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in shares of Coca-Cola by 8.7% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 8,979 shares of the company’s stock valued at $645,000 after acquiring an additional 717 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Down 0.1 %

KO stock opened at $70.03 on Friday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock’s fifty day simple moving average is $63.54 and its two-hundred day simple moving average is $66.41. The stock has a market cap of $301.69 billion, a P/E ratio of 28.35, a P/E/G ratio of 3.74 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on KO shares. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.82.

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.