Grant GrossMendelsohn LLC Has $508,000 Position in The Coca-Cola Company (NYSE:KO)

Grant GrossMendelsohn LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 25.1% in the fourth quarter, Holdings Channel reports. The firm owned 8,155 shares of the company’s stock after selling 2,734 shares during the quarter. Grant GrossMendelsohn LLC’s holdings in Coca-Cola were worth $508,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. acquired a new position in Coca-Cola in the third quarter valued at about $18,383,000. Balentine LLC boosted its holdings in shares of Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after acquiring an additional 59,503 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after purchasing an additional 46,541 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its stake in Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.8 %

NYSE:KO opened at $62.76 on Friday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The stock has a 50-day moving average price of $62.71 and a two-hundred day moving average price of $66.41. The stock has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business 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 business earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of research analyst reports. UBS Group cut their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Truist Financial boosted their price objective 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. Morgan Stanley decreased their price objective 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. Finally, Piper Sandler began coverage on Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target on the stock. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred 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 sale, the chief executive officer now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by insiders.

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.