Regatta Capital Group LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Regatta Capital Group LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,461 shares of the company’s stock after selling 1,611 shares during the period. Regatta Capital Group LLC’s holdings in Coca-Cola were worth $2,146,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KO. Harvest Portfolios Group Inc. bought a new position in Coca-Cola in the third quarter valued at $18,383,000. Balentine LLC raised its holdings in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares during the last quarter. Fiduciary Alliance LLC boosted its stake in Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after buying an additional 8,499 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Coca-Cola by 5.8% during the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after acquiring an additional 46,541 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.7 %

NYSE:KO opened at $61.98 on Friday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company’s 50-day simple moving average is $62.62 and its 200 day simple moving average is $66.36. The firm has a market capitalization of $267.01 billion, a P/E ratio of 25.61, a PEG ratio of 3.38 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm 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 company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KO. Truist Financial upped their price objective 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. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, UBS Group lowered their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Two research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.07.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $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 SEC, which is available at the SEC website. 0.97% of the stock is currently owned by insiders.

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.