Ingalls & Snyder LLC Cuts Stake in The Coca-Cola Company (NYSE:KO)

Ingalls & Snyder LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 66,823 shares of the company’s stock after selling 1,156 shares during the period. Ingalls & Snyder LLC’s holdings in Coca-Cola were worth $4,160,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. CCG Wealth Management LLC grew its position in Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after purchasing an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. grew its position in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the last quarter. Blossom Wealth Management boosted its holdings in shares of Coca-Cola by 3.3% during the 3rd quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after acquiring an additional 155 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Coca-Cola by 1.6% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock valued at $718,000 after acquiring an additional 159 shares during the last quarter. Finally, DeDora Capital Inc. boosted its holdings in shares of Coca-Cola by 3.4% during the 3rd quarter. DeDora Capital Inc. now owns 4,902 shares of the company’s stock valued at $352,000 after acquiring an additional 160 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KO shares. Wells Fargo & Company raised their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Piper Sandler dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Evercore ISI raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $73.31.

Coca-Cola Trading Up 1.7 %

Coca-Cola stock opened at $68.73 on Thursday. The stock has a market cap of $296.08 billion, a P/E ratio of 28.40, a PEG ratio of 3.55 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. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm’s 50 day moving average price is $62.63 and its 200-day moving average price is $66.32.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. On average, equities 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.