My Legacy Advisors LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

My Legacy Advisors LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,233 shares of the company’s stock after selling 486 shares during the period. My Legacy Advisors LLC’s holdings in Coca-Cola were worth $1,250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Coca-Cola by 9.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock worth $233,000 after purchasing an additional 329 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Coca-Cola during the second quarter valued at $995,000. Brighton Jones LLC increased its holdings in Coca-Cola by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 36,109 shares of the company’s stock worth $2,298,000 after buying an additional 631 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Coca-Cola by 4.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 74,303 shares of the company’s stock worth $4,729,000 after buying an additional 3,264 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in Coca-Cola by 22.2% during the 2nd quarter. Benjamin Edwards Inc. now owns 15,983 shares of the company’s stock valued at $1,017,000 after acquiring an additional 2,901 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $62.76 on Friday. The firm’s 50 day simple moving average is $62.69 and its two-hundred day simple moving average is $66.40. 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 company has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. UBS Group decreased 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. Barclays dropped their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The shares were 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 of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by company insiders.

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.