Coston McIsaac & Partners Sells 4,520 Shares of The Coca-Cola Company (NYSE:KO)

Coston McIsaac & Partners lessened its position in The Coca-Cola Company (NYSE:KO) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 97,719 shares of the company’s stock after selling 4,520 shares during the period. Coca-Cola comprises about 1.8% of Coston McIsaac & Partners’ portfolio, making the stock its 14th biggest holding. Coston McIsaac & Partners’ holdings in Coca-Cola were worth $6,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares during the period. Wellington Management Group LLP grew its position in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Coca-Cola by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock worth $847,468,000 after purchasing an additional 222,028 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KO. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered 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 report on Tuesday. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Piper Sandler lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a research note on Thursday. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Trading Up 0.8 %

NYSE:KO opened at $62.86 on Thursday. The firm has a fifty day simple moving average of $62.65 and a two-hundred day simple moving average of $66.41. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. 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 stock has a market capitalization of $270.77 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.38 and a beta of 0.61.

Insider Activity at Coca-Cola

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