Martin Capital Partners LLC Decreases Stake in The Coca-Cola Company (NYSE:KO)

Martin Capital Partners LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 55.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,723 shares of the company’s stock after selling 39,862 shares during the quarter. Coca-Cola accounts for 2.3% of Martin Capital Partners LLC’s investment portfolio, making the stock its 19th largest position. Martin Capital Partners LLC’s holdings in Coca-Cola were worth $1,975,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of KO. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola during the 3rd quarter worth approximately $43,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the 4th quarter valued at approximately $37,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the business’s 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 1.1 %

Shares of NYSE KO opened at $62.68 on Wednesday. The stock has a fifty day moving average price of $62.59 and a 200 day moving average price of $66.36. The company has a market cap of $270.00 billion, a P/E ratio of 25.90, a P/E/G ratio of 3.56 and a beta of 0.61. 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their target price 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 28th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays decreased their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.13.

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.