The Coca-Cola Company (NYSE:KO) Shares Sold by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. reduced its position in The Coca-Cola Company (NYSE:KOGet Rating) by 67.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,501 shares of the company’s stock after selling 9,152 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Coca-Cola were worth $265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kingsview Wealth Management LLC acquired a new position in Coca-Cola during the 2nd quarter worth approximately $3,565,000. Allworth Financial LP increased its holdings in Coca-Cola by 28.7% during the 3rd quarter. Allworth Financial LP now owns 53,693 shares of the company’s stock worth $3,008,000 after purchasing an additional 11,988 shares during the last quarter. Chilton Capital Management LLC increased its holdings in Coca-Cola by 4.4% during the 2nd quarter. Chilton Capital Management LLC now owns 71,067 shares of the company’s stock worth $4,471,000 after purchasing an additional 3,012 shares during the last quarter. First PREMIER Bank increased its holdings in Coca-Cola by 12.9% during the 3rd quarter. First PREMIER Bank now owns 49,122 shares of the company’s stock worth $2,752,000 after purchasing an additional 5,620 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in Coca-Cola by 5.3% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 76,251 shares of the company’s stock worth $4,797,000 after purchasing an additional 3,838 shares during the last quarter. 68.74% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.6 %

Shares of Coca-Cola stock opened at $60.08 on Monday. The stock’s fifty day moving average is $62.62 and its 200-day moving average is $61.30. The firm has a market capitalization of $259.82 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.45. The Coca-Cola Company has a 12-month low of $54.01 and a 12-month high of $67.20.

Coca-Cola (NYSE:KOGet Rating) last announced its earnings results on Tuesday, October 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $11.06 billion for the quarter, compared to analyst estimates of $10.60 billion. Coca-Cola had a return on equity of 42.75% and a net margin of 23.44%. Equities analysts anticipate that The Coca-Cola Company will post 2.48 earnings per share for the current year.

Insider Activity at Coca-Cola

In related news, insider Brian John Smith sold 126,972 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $62.07, for a total transaction of $7,881,152.04. Following the transaction, the insider now directly owns 116,168 shares of the company’s stock, valued at $7,210,547.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Herbert A. Allen III bought 33,200 shares of the company’s stock in a transaction on Friday, October 28th. The shares were bought at an average cost of $60.18 per share, with a total value of $1,997,976.00. Following the transaction, the director now directly owns 99,054 shares in the company, valued at approximately $5,961,069.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian John Smith sold 126,972 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $62.07, for a total value of $7,881,152.04. Following the completion of the transaction, the insider now directly owns 116,168 shares in the company, valued at $7,210,547.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,986 shares of company stock valued at $17,218,050. Company insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on KO shares. Deutsche Bank Aktiengesellschaft boosted their price target on Coca-Cola from $59.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, December 6th. Barclays boosted their price target on Coca-Cola from $62.00 to $67.00 in a report on Wednesday, October 26th. JPMorgan Chase & Co. set a $64.00 price target on Coca-Cola in a report on Thursday, December 8th. Wolfe Research started coverage on Coca-Cola in a report on Tuesday, October 11th. They issued an “outperform” rating and a $63.00 price target for the company. Finally, Credit Suisse Group set a $64.00 price objective on Coca-Cola in a research note on Friday, December 9th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.90.

About Coca-Cola

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The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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