The Coca-Cola Company (NYSE:KO) Shares Sold by Martin Capital Partners LLC

Martin Capital Partners LLC trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 55.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,723 shares of the company’s stock after selling 39,862 shares during the quarter. Coca-Cola comprises 2.3% of Martin Capital Partners LLC’s portfolio, making the stock its 19th largest position. Martin Capital Partners LLC’s holdings in Coca-Cola were worth $1,975,000 as of its most recent filing with the Securities and Exchange Commission.

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

Coca-Cola Stock Performance

Shares of KO opened at $62.68 on Wednesday. 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’s fifty day moving average price is $62.59 and its 200 day moving average price is $66.36. The company has a market capitalization of $270.00 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KO shares. Truist Financial lifted 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. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, 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 report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.97% of the stock is currently 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.