SG Americas Securities LLC Decreases Stake in The Coca-Cola Company (NYSE:KO)

SG Americas Securities LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 51.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 897,764 shares of the company’s stock after selling 942,790 shares during the quarter. SG Americas Securities LLC’s holdings in Coca-Cola were worth $55,895,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KO. Phillips Wealth Planners LLC boosted its holdings in Coca-Cola by 9.3% in the fourth quarter. Phillips Wealth Planners LLC now owns 3,717 shares of the company’s stock valued at $227,000 after purchasing an additional 315 shares during the last quarter. Kelleher Financial Advisors increased its position in Coca-Cola by 2.0% in the 4th quarter. Kelleher Financial Advisors now owns 9,466 shares of the company’s stock valued at $589,000 after acquiring an additional 189 shares during the period. Westside Investment Management Inc. boosted its stake in Coca-Cola by 20.3% during the 4th quarter. Westside Investment Management Inc. now owns 5,271 shares of the company’s stock valued at $328,000 after purchasing an additional 888 shares in the last quarter. Cetera Trust Company N.A boosted its stake in Coca-Cola by 2.8% during the 4th quarter. Cetera Trust Company N.A now owns 30,221 shares of the company’s stock valued at $1,882,000 after purchasing an additional 830 shares in the last quarter. Finally, Magnus Financial Group LLC boosted its stake in shares of Coca-Cola by 3.9% during the 4th quarter. Magnus Financial Group LLC now owns 14,517 shares of the company’s stock worth $904,000 after acquiring an additional 548 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KO has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price 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. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. UBS Group lowered their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen upgraded shares of 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. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.13.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

KO opened at $61.78 on Thursday. The company has a market capitalization of $266.14 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.42 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 firm has a 50-day moving average price of $62.66 and a 200-day moving average price of $66.44. 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. Equities analysts expect 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.