Weaver Capital Management LLC Sells 270 Shares of The Coca-Cola Company (NYSE:KO)

Weaver Capital Management LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,172 shares of the company’s stock after selling 270 shares during the quarter. Weaver Capital Management LLC’s holdings in Coca-Cola were worth $1,629,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harvest Portfolios Group Inc. bought a new stake in Coca-Cola during the 3rd quarter worth approximately $18,383,000. Balentine LLC increased its stake in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares in the last quarter. Rice Partnership LLC increased its stake in Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares in the last quarter. Finally, Fiduciary Alliance LLC increased its stake in Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Down 1.1 %

Shares of Coca-Cola stock opened at $62.68 on Wednesday. The business has a fifty day simple moving average of $62.62 and a two-hundred day simple moving average of $66.38. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a market capitalization of $270.00 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 3.56 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Truist Financial upped their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.

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.