Atwater Malick LLC Sells 617 Shares of The Coca-Cola Company (NYSE:KO)

Atwater Malick LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 139,289 shares of the company’s stock after selling 617 shares during the period. Coca-Cola comprises 2.9% of Atwater Malick LLC’s investment portfolio, making the stock its 13th biggest position. Atwater Malick LLC’s holdings in Coca-Cola were worth $8,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Harvest Portfolios Group Inc. bought a new stake in Coca-Cola in the 3rd quarter valued at about $18,383,000. Balentine LLC raised its position in shares of Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after buying an additional 59,503 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after buying an additional 46,541 shares during the period. Finally, Fiduciary Alliance LLC grew its stake in Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after buying an additional 8,499 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.8 %

KO opened at $62.76 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business’s fifty day simple moving average is $62.71 and its 200 day simple moving average is $66.41. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a market cap of $270.34 billion, a PE ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barclays dropped their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Piper Sandler assumed coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective 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. Two equities research 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was 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 owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.