Triangle Securities Wealth Management Trims Stake in The Coca-Cola Company (NYSE:KO)

Triangle Securities Wealth Management cut its holdings in The Coca-Cola Company (NYSE:KO) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,599 shares of the company’s stock after selling 205 shares during the quarter. Triangle Securities Wealth Management’s holdings in Coca-Cola were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. Quarry LP purchased a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the third quarter worth approximately $36,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the third quarter worth approximately $43,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. TD Cowen raised 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. Morgan Stanley decreased their target price 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. Wells Fargo & Company decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Piper Sandler started coverage on Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price on the stock. Two 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 stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Insider Activity

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 in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.8 %

Shares of KO opened at $62.76 on Monday. The stock’s fifty day simple moving average is $62.69 and its 200 day simple moving average is $66.43. 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 Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The firm has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating 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 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 company posted $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

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.