Beach Investment Counsel Inc. PA Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Beach Investment Counsel Inc. PA trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 7.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 277,966 shares of the company’s stock after selling 22,197 shares during the quarter. Coca-Cola comprises about 2.3% of Beach Investment Counsel Inc. PA’s holdings, making the stock its 13th biggest holding. Beach Investment Counsel Inc. PA’s holdings in Coca-Cola were worth $17,306,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quarry LP purchased a new stake in shares of Coca-Cola during the second quarter valued at $27,000. Czech National Bank grew its stake in shares of Coca-Cola by 6.9% in the third quarter. Czech National Bank now owns 790,169 shares of the company’s stock worth $56,782,000 after acquiring an additional 51,339 shares during the period. GAMMA Investing LLC raised its holdings in shares of Coca-Cola by 25.7% during the third quarter. GAMMA Investing LLC now owns 72,924 shares of the company’s stock valued at $5,240,000 after purchasing an additional 14,907 shares during the last quarter. Diversified Trust Co lifted its position in Coca-Cola by 0.6% during the third quarter. Diversified Trust Co now owns 553,864 shares of the company’s stock valued at $39,801,000 after purchasing an additional 3,550 shares during the period. Finally, Consilio Wealth Advisors LLC boosted its holdings in Coca-Cola by 14.4% in the third quarter. Consilio Wealth Advisors LLC now owns 4,088 shares of the company’s stock worth $294,000 after purchasing an additional 516 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 0.2 %

Shares of KO stock opened at $63.47 on Tuesday. The company’s fifty day simple moving average is $62.65 and its two-hundred day simple moving average is $66.39. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a market cap of $273.43 billion, a P/E ratio of 26.23, a PEG ratio of 3.56 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KO. Wells Fargo & Company decreased their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Piper Sandler reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, UBS Group reduced their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Insider Activity at Coca-Cola

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 stock was 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. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is owned by corporate insiders.

About Coca-Cola

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.