Wolff Financial Management LLC Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

Wolff Financial Management LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,979 shares of the company’s stock after selling 1,109 shares during the quarter. Wolff Financial Management LLC’s holdings in Coca-Cola were worth $684,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in KO. Fred Alger Management LLC lifted its position in shares of Coca-Cola by 7.5% in the second quarter. Fred Alger Management LLC now owns 102,078 shares of the company’s stock valued at $6,497,000 after acquiring an additional 7,160 shares in the last quarter. MBB Public Markets I LLC grew its holdings in shares of Coca-Cola by 1,716.8% during the second quarter. MBB Public Markets I LLC now owns 290,784 shares of the company’s stock worth $18,508,000 after buying an additional 274,779 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Coca-Cola by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,393,352 shares of the company’s stock valued at $152,337,000 after buying an additional 22,623 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Coca-Cola by 7.6% in the second quarter. Mackenzie Financial Corp now owns 3,851,055 shares of the company’s stock worth $245,120,000 after buying an additional 272,896 shares in the last quarter. Finally, Lummis Asset Management LP boosted its position in Coca-Cola by 1.1% during the second quarter. Lummis Asset Management LP now owns 14,855 shares of the company’s stock worth $946,000 after acquiring an additional 167 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In related 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 value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays cut their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Finally, UBS Group reduced their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.07.

Coca-Cola Trading Up 0.7 %

Shares of KO stock opened at $61.98 on Friday. The stock has a market capitalization of $267.01 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a 50 day moving average price of $62.61 and a 200 day moving average price of $66.37.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts predict 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.