WESPAC Advisors SoCal LLC Sells 2,157 Shares of The Coca-Cola Company (NYSE:KO)

WESPAC Advisors SoCal LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,844 shares of the company’s stock after selling 2,157 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Coca-Cola were worth $3,913,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KO. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC bought a new position in Coca-Cola in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the 3rd quarter valued at approximately $36,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the 4th quarter valued at approximately $37,000. Finally, MilWealth Group LLC bought a new position in Coca-Cola in the 4th quarter valued at approximately $40,000. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on KO. JPMorgan Chase & Co. lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Barclays decreased their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $63.36 on Tuesday. The firm has a market cap of $272.95 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The firm’s 50 day simple moving average is $62.65 and its 200-day simple moving average is $66.39. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

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.