Palumbo Wealth Management LLC Has $251,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

Palumbo Wealth Management LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 90.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,027 shares of the company’s stock after selling 38,112 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Coca-Cola were worth $251,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Partners Asset Management Inc. boosted its holdings in Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after acquiring an additional 150 shares in the last quarter. Blossom Wealth Management lifted its holdings in shares of Coca-Cola by 3.3% in the 3rd quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock worth $351,000 after purchasing an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its position in Coca-Cola by 1.6% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock valued at $718,000 after purchasing an additional 159 shares during the period. DeDora Capital Inc. increased its stake in Coca-Cola by 3.4% during the 3rd quarter. DeDora Capital Inc. now owns 4,902 shares of the company’s stock valued at $352,000 after purchasing an additional 160 shares in the last quarter. Finally, Freedom Day Solutions LLC raised its holdings in Coca-Cola by 1.1% during the third quarter. Freedom Day Solutions LLC now owns 14,229 shares of the company’s stock worth $1,022,000 after buying an additional 160 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Wells Fargo & Company raised their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Finally, Barclays raised their price objective on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Stock Down 0.9 %

Coca-Cola stock opened at $68.85 on Friday. 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 company has a market capitalization of $296.59 billion, a P/E ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61. The firm has a 50 day moving average price of $63.02 and a 200-day moving average price of $66.37. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Company 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.