IVC Wealth Advisors LLC Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

IVC Wealth Advisors LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,266 shares of the company’s stock after selling 1,006 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Coca-Cola were worth $701,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of KO. FMR LLC raised its stake in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Geode Capital Management LLC raised its position in Coca-Cola by 3.3% in the 3rd 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 period. Legal & General Group Plc lifted its stake in Coca-Cola by 2.9% in the second 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 during the last quarter. Wellington Management Group LLP boosted its position in shares of Coca-Cola by 14.5% during the third 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 period. Finally, Franklin Resources Inc. grew its stake in shares of Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after buying an additional 1,609,565 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was 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 the SEC website. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $61.54 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market cap of $265.08 billion, a PE ratio of 25.43, a PEG ratio of 3.42 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The business’s fifty day simple moving average is $62.63 and its 200-day simple moving average is $66.40.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the company earned $0.74 earnings per share. The company’s quarterly revenue 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 fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on KO shares. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Barclays lowered their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Two 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.07.

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.