Pineridge Advisors LLC Sells 217 Shares of The Coca-Cola Company (NYSE:KO)

Pineridge Advisors LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,884 shares of the company’s stock after selling 217 shares during the period. Pineridge Advisors LLC’s holdings in Coca-Cola were worth $117,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC grew its position in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after buying an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at $269,382,000. Geode Capital Management LLC boosted its position in Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its position in Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after acquiring an additional 2,443,612 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. UBS Group cut their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, Piper Sandler decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.19.

Coca-Cola Trading Up 1.2 %

Shares of KO stock opened at $64.58 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a 50 day moving average price of $62.53 and a two-hundred day moving average price of $66.32. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a market capitalization of $278.18 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

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.