Jamison Private Wealth Management Inc. Sells 11,419 Shares of The Coca-Cola Company (NYSE:KO)

Jamison Private Wealth Management Inc. cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 8.0% during the 4th quarter, Holdings Channel reports. The fund owned 131,690 shares of the company’s stock after selling 11,419 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Coca-Cola were worth $8,199,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Coca-Cola by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,393,352 shares of the company’s stock worth $152,337,000 after buying an additional 22,623 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Coca-Cola in the 2nd quarter worth about $23,985,000. Oliver Lagore Vanvalin Investment Group lifted its position in Coca-Cola by 29.2% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 1,878 shares of the company’s stock valued at $120,000 after acquiring an additional 425 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its stake in Coca-Cola by 64.0% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 5,704 shares of the company’s stock valued at $363,000 after purchasing an additional 2,226 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its holdings in Coca-Cola by 13.9% during the 2nd quarter. Kathmere Capital Management LLC now owns 5,605 shares of the company’s stock worth $357,000 after purchasing an additional 683 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KO. Wells Fargo & Company cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. Barclays cut their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.07.

Coca-Cola Stock Performance

NYSE KO opened at $61.98 on Friday. The company’s 50 day moving average is $62.62 and its 200-day moving average is $66.36. The firm has a market cap of $267.01 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

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

Insiders Place Their Bets

In other 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 directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is owned by corporate 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.