Shulman DeMeo Asset Management LLC Sells 1,668 Shares of The Coca-Cola Company (NYSE:KO)

Shulman DeMeo Asset Management LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 8.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,646 shares of the company’s stock after selling 1,668 shares during the quarter. Coca-Cola comprises 0.3% of Shulman DeMeo Asset Management LLC’s portfolio, making the stock its 26th largest holding. Shulman DeMeo Asset Management LLC’s holdings in Coca-Cola were worth $1,099,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cohen Investment Advisors LLC increased its stake in shares of Coca-Cola by 2.7% in the 4th quarter. Cohen Investment Advisors LLC now owns 34,465 shares of the company’s stock worth $2,146,000 after acquiring an additional 893 shares in the last quarter. Cypress Wealth Services LLC raised its holdings in shares of Coca-Cola by 4.4% during the fourth quarter. Cypress Wealth Services LLC now owns 9,319 shares of the company’s stock valued at $580,000 after purchasing an additional 395 shares during the last quarter. Congress Park Capital LLC lifted its holdings in Coca-Cola by 2.6% in the fourth quarter. Congress Park Capital LLC now owns 11,986 shares of the company’s stock valued at $746,000 after acquiring an additional 300 shares during the period. Ritholtz Wealth Management grew its position in shares of Coca-Cola by 8.4% during the 4th quarter. Ritholtz Wealth Management now owns 72,983 shares of the company’s stock valued at $4,544,000 after acquiring an additional 5,649 shares during the period. Finally, Carnegie Investment Counsel raised its stake in shares of Coca-Cola by 8.9% in the fourth quarter. Carnegie Investment Counsel now owns 89,824 shares of the company’s stock worth $5,592,000 after buying an additional 7,336 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $62.27 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a market capitalization of $268.23 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The stock’s fifty day moving average is $62.74 and its two-hundred day moving average is $66.44. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

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

Analyst Ratings Changes

KO has been the subject of several recent analyst reports. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Piper Sandler started coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price for the company. UBS Group decreased their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.60.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is owned by insiders.

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.