Wendell David Associates Inc. Sells 810 Shares of The Coca-Cola Company (NYSE:KO)

Wendell David Associates Inc. lessened its stake in The Coca-Cola Company (NYSE:KO) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,847 shares of the company’s stock after selling 810 shares during the quarter. Coca-Cola makes up about 1.1% of Wendell David Associates Inc.’s holdings, making the stock its 27th largest position. Wendell David Associates Inc.’s holdings in Coca-Cola were worth $11,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. FMR LLC boosted its holdings in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Legal & General Group Plc grew its position in Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after purchasing an additional 1,084,475 shares in the last quarter. Wellington Management Group LLP increased its stake in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Coca-Cola by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after buying an additional 1,609,565 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on KO. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Barclays lowered their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Piper Sandler started coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Trading Down 1.0 %

NYSE:KO opened at $61.78 on Thursday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The stock’s fifty day moving average price is $62.66 and its two-hundred day moving average price is $66.44. 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 company has a market cap of $266.14 billion, a P/E ratio of 25.53, a P/E/G ratio of 3.42 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS. As a group, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated 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 represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.

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.