The Coca-Cola Company (NYSE:KO) Position Reduced by Triangle Securities Wealth Management

Triangle Securities Wealth Management decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 4.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,599 shares of the company’s stock after selling 205 shares during the quarter. Triangle Securities Wealth Management’s holdings in Coca-Cola were worth $286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Coca-Cola during the second quarter worth approximately $27,000. Hara Capital LLC bought a new stake in Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the third quarter worth approximately $36,000. MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the third quarter worth approximately $43,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Coca-Cola during the fourth quarter worth approximately $37,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Barclays decreased their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday. Wells Fargo & Company decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Truist Financial lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Stock Up 0.8 %

KO stock opened at $62.76 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a fifty day simple moving average of $62.69 and a 200 day simple moving average of $66.43. The firm has a market cap of $270.34 billion, a PE ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the business earned $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on 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. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.

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.