WealthBridge Investment Counsel Inc. Sells 750 Shares of The Coca-Cola Company (NYSE:KO)

WealthBridge Investment Counsel Inc. cut its holdings in The Coca-Cola Company (NYSE:KO) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 63,175 shares of the company’s stock after selling 750 shares during the quarter. WealthBridge Investment Counsel Inc.’s holdings in Coca-Cola were worth $3,933,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KO. Quarry LP acquired a new position in Coca-Cola in the 2nd quarter valued at about $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola in the 4th quarter valued at $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola in the third quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.8 %

Shares of NYSE:KO opened at $62.76 on Friday. 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 stock has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61. The business’s 50 day moving average is $62.69 and its 200 day moving average is $66.40. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KO. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler initiated coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price for the company. UBS Group reduced their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.13.

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.