RFG Advisory LLC Cuts Stake in The Coca-Cola Company (NYSE:KO)

RFG Advisory LLC trimmed its stake in The Coca-Cola Company (NYSE:KO) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,923 shares of the company’s stock after selling 5,087 shares during the quarter. RFG Advisory LLC’s holdings in Coca-Cola were worth $4,167,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Apella Capital LLC raised its stake in shares of Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after acquiring an additional 146 shares during the last quarter. Investment Advisory Group LLC raised its position in Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after purchasing an additional 146 shares during the last quarter. CCG Wealth Management LLC boosted its stake in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. grew its holdings in shares of Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares during the last quarter. Finally, Chapin Davis Inc. increased its stake in shares of Coca-Cola by 1.0% in the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. UBS Group decreased their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.07.

Insider Buying and Selling

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 currently owned by company insiders.

Coca-Cola Stock Down 0.4 %

Coca-Cola stock opened at $61.54 on Friday. The firm has a market capitalization of $265.08 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 3.38 and a beta of 0.61. The company’s 50 day simple moving average is $62.63 and its 200 day simple moving average is $66.40. 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 fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last posted its 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 net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS 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.