Godsey & Gibb Inc. Sells 305 Shares of The Coca-Cola Company (NYSE:KO)

Godsey & Gibb Inc. cut its holdings in The Coca-Cola Company (NYSE:KO) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 336,252 shares of the company’s stock after selling 305 shares during the period. Coca-Cola accounts for 2.1% of Godsey & Gibb Inc.’s portfolio, making the stock its 23rd largest holding. Godsey & Gibb Inc.’s holdings in Coca-Cola were worth $20,935,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP bought a new position in shares of Coca-Cola during the 2nd quarter valued at approximately $27,000. Hara Capital LLC bought a new stake in Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the third quarter worth approximately $43,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coca-Cola in the third quarter worth $58,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock opened at $61.71 on Thursday. 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 firm has a market capitalization of $265.83 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company’s 50-day moving average is $62.78 and its 200 day moving average is $66.47.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. Research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

KO has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Piper Sandler began coverage on Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective 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 analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Insider Activity

In other 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 transaction of $6,403,000.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

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.