Partnership Wealth Management LLC Sells 200 Shares of The Coca-Cola Company (NYSE:KO)

Partnership Wealth Management LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,000 shares of the company’s stock after selling 200 shares during the period. Partnership Wealth Management LLC’s holdings in Coca-Cola were worth $249,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Apella Capital LLC boosted its position in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares in the last quarter. Investment Advisory Group LLC grew its stake in Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after acquiring an additional 146 shares during the period. CCG Wealth Management LLC increased its holdings in shares of Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. raised its position in shares of Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares during the period. Finally, Chapin Davis Inc. lifted its holdings in shares of Coca-Cola by 1.0% during the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after purchasing an additional 153 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of NYSE:KO traded up $0.89 on Wednesday, reaching $61.73. 14,091,077 shares of the company’s stock were exchanged, compared to its average volume of 14,640,376. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a fifty day moving average of $63.15 and a 200-day moving average of $66.55. The company has a market capitalization of $265.92 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.83 and a beta of 0.61.

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

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday. Piper Sandler initiated coverage on shares of Coca-Cola in a research report on Tuesday. They issued an “overweight” rating and a $74.00 target price for the company. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays reduced their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Two research 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 company’s stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $72.60.

Coca-Cola 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.