Sheaff Brock Investment Advisors LLC cut its position in shares of The Coca-Cola Co (NYSE:KO) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,601 shares of the company’s stock after selling 6,279 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in The Coca-Cola were worth $3,201,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of KO. Cordasco Financial Network grew its position in shares of The Coca-Cola by 26.1% in the fourth quarter. Cordasco Financial Network now owns 1,034 shares of the company’s stock valued at $49,000 after purchasing an additional 214 shares during the period. IMS Capital Management purchased a new stake in shares of The Coca-Cola in the third quarter valued at $73,000. Mackey Komara & Dankovich LLC purchased a new stake in shares of The Coca-Cola in the fourth quarter valued at $109,000. Endurance Wealth Management Inc. grew its position in shares of The Coca-Cola by 20.3% in the fourth quarter. Endurance Wealth Management Inc. now owns 2,369 shares of the company’s stock valued at $112,000 after purchasing an additional 400 shares during the period. Finally, Westbourne Investment Advisors Inc. purchased a new stake in shares of The Coca-Cola in the third quarter valued at $117,000. 65.93% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on KO shares. Morgan Stanley set a $50.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a research report on Monday, October 15th. Macquarie set a $47.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a research report on Wednesday, October 17th. Jefferies Financial Group reaffirmed a “neutral” rating and issued a $48.00 price objective on shares of The Coca-Cola in a research report on Wednesday, October 17th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $56.00 price objective on shares of The Coca-Cola in a research report on Wednesday, October 17th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $52.00 price objective on shares of The Coca-Cola in a research report on Wednesday, October 17th. Fourteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.64.
In other The Coca-Cola news, insider Jennifer K. Mann sold 15,100 shares of the business’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $50.40, for a total transaction of $761,040.00. Following the transaction, the insider now owns 40,058 shares in the company, valued at $2,018,923.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Beatriz R. Perez sold 21,742 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $48.76, for a total value of $1,060,139.92. Following the transaction, the insider now owns 92,645 shares in the company, valued at approximately $4,517,370.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,842 shares of company stock valued at $2,306,180. 1.48% of the stock is owned by company insiders.
KO stock opened at $49.50 on Monday. The Coca-Cola Co has a 12-month low of $41.45 and a 12-month high of $50.84. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 1.26. The stock has a market cap of $211.16 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.02 and a beta of 0.53.
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The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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