The Coca-Cola Company (NYSE:KO) Position Cut by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 5.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 33,154 shares of the company’s stock after selling 2,055 shares during the period. LaFleur & Godfrey LLC’s holdings in Coca-Cola were worth $2,064,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of KO. Zhang Financial LLC raised its stake in Coca-Cola by 7.0% during the 4th quarter. Zhang Financial LLC now owns 10,591 shares of the company’s stock valued at $659,000 after acquiring an additional 694 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its stake in shares of Coca-Cola by 23.4% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 15,514 shares of the company’s stock valued at $966,000 after purchasing an additional 2,938 shares in the last quarter. Guinness Asset Management LTD lifted its holdings in Coca-Cola by 5.2% in the fourth quarter. Guinness Asset Management LTD now owns 3,222,386 shares of the company’s stock worth $200,581,000 after purchasing an additional 160,349 shares during the period. Corundum Group Inc. grew its position in Coca-Cola by 72.8% in the 4th quarter. Corundum Group Inc. now owns 18,098 shares of the company’s stock valued at $1,127,000 after buying an additional 7,623 shares in the last quarter. Finally, Stokes Capital Advisors LLC increased its stake in Coca-Cola by 4.3% during the 4th quarter. Stokes Capital Advisors LLC now owns 102,647 shares of the company’s stock valued at $6,391,000 after buying an additional 4,248 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler assumed coverage on Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective for the company. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction 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 owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $62.76 on Monday. The company has a 50 day simple moving average of $62.69 and a 200-day simple moving average of $66.43. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The firm has a market capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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

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.