Quantum Financial Advisors LLC Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Quantum Financial Advisors LLC trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 30.4% in the 4th quarter, HoldingsChannel reports. The fund owned 4,579 shares of the company’s stock after selling 2,000 shares during the quarter. Quantum Financial Advisors LLC’s holdings in Coca-Cola were worth $285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wallace Advisory Group LLC lifted its stake in shares of Coca-Cola by 2.3% in the 4th quarter. Wallace Advisory Group LLC now owns 7,513 shares of the company’s stock valued at $468,000 after purchasing an additional 172 shares during the last quarter. Arbor Wealth Advisors LLC raised its holdings in Coca-Cola by 11.0% in the 4th quarter. Arbor Wealth Advisors LLC now owns 8,265 shares of the company’s stock valued at $515,000 after buying an additional 818 shares during the period. Ayrshire Capital Management LLC acquired a new position in Coca-Cola in the fourth quarter valued at about $315,000. Johnson & White Wealth Management LLC purchased a new position in Coca-Cola during the fourth quarter worth about $866,000. Finally, Greenfield Savings Bank increased its position in shares of Coca-Cola by 6.6% during the fourth quarter. Greenfield Savings Bank now owns 19,742 shares of the company’s stock valued at $1,229,000 after acquiring an additional 1,225 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on KO. Wells Fargo & Company decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Piper Sandler initiated coverage on Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price for the company. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.60.

Coca-Cola Stock Performance

Shares of KO stock opened at $61.68 on Tuesday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. 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 company has a market cap of $265.70 billion, a P/E ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61. The firm has a fifty day moving average price of $62.84 and a 200 day moving average price of $66.48.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 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 the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. Sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the 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 approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola 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.