Cadinha & Co. LLC Has $676,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Cadinha & Co. LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,857 shares of the company’s stock after selling 2,590 shares during the quarter. Cadinha & Co. LLC’s holdings in Coca-Cola were worth $676,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KO shares. Barclays lowered their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Wells Fargo & Company lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Price Performance

Shares of KO stock opened at $62.76 on Friday. 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 firm’s 50 day moving average is $62.69 and its 200-day moving average is $66.40. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm has a market capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the firm earned $0.74 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on 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 transaction, 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 Securities & Exchange Commission, which is available at this link. Corporate 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.