Amplius Wealth Advisors LLC Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Amplius Wealth Advisors LLC trimmed its position in The Coca-Cola Company (NYSE:KO) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,835 shares of the company’s stock after selling 214 shares during the period. Amplius Wealth Advisors LLC’s holdings in Coca-Cola were worth $550,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Coca-Cola in the second quarter valued at about $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the firm’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KO shares. Barclays dropped their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday. Piper Sandler started coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target for the company. Truist Financial boosted their price objective 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. Wells Fargo & Company dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Coca-Cola Stock Up 0.8 %

KO opened at $62.76 on Tuesday. The firm has a market cap of $270.34 billion, a P/E ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The business’s fifty day simple moving average is $62.69 and its 200 day simple moving average is $66.45. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal 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.