Portside Wealth Group LLC Sells 599 Shares of The Coca-Cola Company (NYSE:KO)

Portside Wealth Group LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,604 shares of the company’s stock after selling 599 shares during the quarter. Portside Wealth Group LLC’s holdings in Coca-Cola were worth $2,466,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of KO. Quarry LP bought a new position in shares of Coca-Cola in the 2nd quarter worth $27,000. Hara Capital LLC acquired a new position in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the third quarter worth about $36,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola during the 3rd quarter worth about $43,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $37,000. 70.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction 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 owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on KO shares. TD Cowen upgraded shares of 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. Wells Fargo & Company dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays dropped their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, UBS Group lowered their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Coca-Cola Trading Up 0.8 %

Coca-Cola stock opened at $62.76 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a 50-day simple moving average of $62.69 and a 200 day simple moving average of $66.40. The stock has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a PEG ratio of 3.35 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.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola 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.