Nisa Investment Advisors LLC Cuts Position in The Coca-Cola Company (NYSE:KO)

Nisa Investment Advisors LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,101,033 shares of the company’s stock after selling 48,176 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Coca-Cola were worth $68,550,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of KO. FMR LLC increased its position in shares of Coca-Cola by 13.7% during the 3rd 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 last quarter. Geode Capital Management LLC increased its holdings in 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 buying an additional 2,966,964 shares during the last quarter. Legal & General Group Plc raised its position in Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares during the period. Wellington Management Group LLP boosted its stake in 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 acquiring an additional 4,013,996 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Coca-Cola by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after acquiring an additional 1,609,565 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents 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 the SEC website. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

NYSE:KO opened at $62.39 on Wednesday. The stock has a market cap of $268.76 billion, a P/E ratio of 25.78, a PEG ratio of 3.43 and a beta of 0.61. 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 business’s 50-day moving average price is $62.67 and its two-hundred day moving average price is $66.45. 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 announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

KO has been the topic of a number of research reports. 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 report on Wednesday, October 16th. Piper Sandler started coverage on Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target on the stock. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Wells Fargo & Company cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $72.13.

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.