Cypress Point Wealth Management LLC Sells 623 Shares of The Coca-Cola Company (NYSE:KO)

Cypress Point Wealth Management LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,511 shares of the company’s stock after selling 623 shares during the period. Cypress Point Wealth Management LLC’s holdings in Coca-Cola were worth $841,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC bought a new position in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the third quarter worth $36,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the 3rd quarter valued at about $43,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.7 %

Coca-Cola stock opened at $61.98 on Friday. 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 market cap of $267.01 billion, a PE ratio of 25.61, a PEG ratio of 3.38 and a beta of 0.61. 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 business’s 50-day simple moving average is $62.62 and its two-hundred day simple moving average is $66.36.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KO. Piper Sandler decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays dropped their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, UBS Group decreased their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Two research 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. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.07.

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.