Founders Capital Management LLC Sells 659 Shares of The Coca-Cola Company (NYSE:KO)

Founders Capital Management LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 135,767 shares of the company’s stock after selling 659 shares during the quarter. Coca-Cola accounts for approximately 1.5% of Founders Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Founders Capital Management LLC’s holdings in Coca-Cola were worth $8,453,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Quarry LP bought a new stake in Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the third quarter valued at $36,000. MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the third quarter valued at about $43,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.9 %

Shares of NYSE:KO opened at $63.46 on Friday. The company has a 50 day moving average price of $62.65 and a two-hundred day moving average price of $66.37. The company has a market capitalization of $273.38 billion, a PE ratio of 26.22, a PEG ratio of 3.52 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on 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 completion of 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 represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KO shares. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company decreased their price objective 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. Barclays dropped their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, UBS Group decreased their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

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.