Portside Wealth Group LLC Has $2.47 Million Position in The Coca-Cola Company (NYSE:KO)

Portside Wealth Group LLC lowered its holdings in The Coca-Cola Company (NYSE:KO) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,604 shares of the company’s stock after selling 599 shares during the period. Portside Wealth Group LLC’s holdings in Coca-Cola were worth $2,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Coca-Cola by 9.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after purchasing an additional 329 shares during the period. Seven Eight Capital LP purchased a new position in Coca-Cola during the second quarter valued at approximately $995,000. Brighton Jones LLC increased its stake in Coca-Cola by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 36,109 shares of the company’s stock valued at $2,298,000 after buying an additional 631 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Coca-Cola by 4.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 74,303 shares of the company’s stock valued at $4,729,000 after buying an additional 3,264 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in shares of Coca-Cola by 22.2% during the 2nd quarter. Benjamin Edwards Inc. now owns 15,983 shares of the company’s stock valued at $1,017,000 after acquiring an additional 2,901 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.8 %

KO opened at $62.76 on Friday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.35 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. The firm’s fifty day moving average price is $62.69 and its two-hundred day moving average price is $66.40.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS. On average, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on KO. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Barclays lowered their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday. Truist Financial lifted their target price 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. Wells Fargo & Company cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $70.00 in a 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is owned by company 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.