Bartlett & CO. Wealth Management LLC Has $10.46 Million Stake in The Coca-Cola Company (NYSE:KO)

Bartlett & CO. Wealth Management LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 167,936 shares of the company’s stock after selling 13,773 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Coca-Cola were worth $10,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter valued at $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth about $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the 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 represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of research analyst reports. Barclays reduced their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company reduced their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Piper Sandler began coverage on Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price for the company. UBS Group reduced 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 report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Stock Down 1.0 %

Shares of KO opened at $61.78 on Thursday. The firm has a 50 day simple moving average of $62.66 and a two-hundred day simple moving average of $66.44. 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 one year low of $57.93 and a one year high of $73.53. The company has a market cap of $266.14 billion, a P/E ratio of 25.53, a P/E/G ratio of 3.42 and a beta of 0.61.

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