The Coca-Cola Company (NYSE:KO) Shares Sold by City Holding Co.

City Holding Co. reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,725 shares of the company’s stock after selling 236 shares during the period. Coca-Cola comprises 0.8% of City Holding Co.’s investment portfolio, making the stock its 29th largest holding. City Holding Co.’s holdings in Coca-Cola were worth $5,960,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the third quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the 4th quarter valued at $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola in the third quarter valued at $43,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $62.76 on Monday. The stock has a market capitalization 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 company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The firm has a fifty day simple moving average of $62.69 and a 200-day simple moving average of $66.43.

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

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

KO has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays reduced their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Piper Sandler initiated coverage on Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.