The Coca-Cola Company (NYSE:KO) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC decreased its stake in The Coca-Cola Company (NYSE:KO) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,266 shares of the company’s stock after selling 1,006 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Coca-Cola were worth $701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Fred Alger Management LLC raised its stake in shares of Coca-Cola by 7.5% during the 2nd quarter. Fred Alger Management LLC now owns 102,078 shares of the company’s stock worth $6,497,000 after buying an additional 7,160 shares during the period. Drucker Wealth 3.0 LLC purchased a new position in Coca-Cola during the second quarter valued at $3,368,000. Delta Investment Management LLC grew its position in shares of Coca-Cola by 4.1% in the second quarter. Delta Investment Management LLC now owns 7,114 shares of the company’s stock valued at $453,000 after purchasing an additional 283 shares during the period. Daymark Wealth Partners LLC increased its stake in shares of Coca-Cola by 5.6% during the second quarter. Daymark Wealth Partners LLC now owns 224,335 shares of the company’s stock worth $14,279,000 after purchasing an additional 11,904 shares in the last quarter. Finally, MBB Public Markets I LLC raised its position in shares of Coca-Cola by 1,716.8% during the 2nd quarter. MBB Public Markets I LLC now owns 290,784 shares of the company’s stock worth $18,508,000 after purchasing an additional 274,779 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction 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 completion of the transaction, the chief executive officer now directly 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. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on KO shares. Barclays cut their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group lowered their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Piper Sandler lowered their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.07.

Coca-Cola Price Performance

Shares of KO opened at $61.54 on Friday. The firm has a 50-day simple moving average of $62.63 and a two-hundred day simple moving average of $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 Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The stock has a market cap of $265.08 billion, a PE ratio of 25.43, a P/E/G ratio of 3.42 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

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.