Pineridge Advisors LLC Sells 217 Shares of The Coca-Cola Company (NYSE:KO)

Pineridge Advisors LLC cut its position in The Coca-Cola Company (NYSE:KO) by 10.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,884 shares of the company’s stock after selling 217 shares during the quarter. Pineridge Advisors LLC’s holdings in Coca-Cola were worth $117,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Hara Capital LLC bought a new position in shares of Coca-Cola in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the third quarter worth $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $37,000. MilWealth Group LLC acquired a new stake in Coca-Cola during the 4th quarter valued at approximately $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the third quarter worth $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Up 1.2 %

Shares of NYSE KO opened at $64.58 on Tuesday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The business’s 50 day moving average is $62.53 and its two-hundred day moving average is $66.32. The stock has a market capitalization of $278.18 billion, a P/E ratio of 26.68, a PEG ratio of 3.55 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Wall Street Analyst Weigh In

KO has been the topic of several recent analyst reports. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Finally, Piper Sandler decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.19.

Coca-Cola Company 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.