FSC Wealth Advisors LLC Reduces Stake in The Coca-Cola Company (NYSE:KO)

FSC Wealth Advisors LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 55.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 823 shares of the company’s stock after selling 1,009 shares during the quarter. FSC Wealth Advisors LLC’s holdings in Coca-Cola were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of KO. Magnolia Capital Advisors LLC purchased a new position in shares of Coca-Cola during the 2nd quarter valued at about $1,837,000. William B. Walkup & Associates Inc. acquired a new stake in Coca-Cola during the second quarter worth about $968,000. Wallace Advisory Group LLC raised its position in Coca-Cola by 4.4% during the second quarter. Wallace Advisory Group LLC now owns 7,446 shares of the company’s stock valued at $474,000 after acquiring an additional 315 shares in the last quarter. Second Line Capital LLC lifted its holdings in Coca-Cola by 18.5% in the second quarter. Second Line Capital LLC now owns 7,810 shares of the company’s stock valued at $501,000 after acquiring an additional 1,221 shares during the period. Finally, Invst LLC boosted its position in Coca-Cola by 5.2% in the 2nd quarter. Invst LLC now owns 33,324 shares of the company’s stock worth $2,109,000 after purchasing an additional 1,645 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

NYSE:KO opened at $63.84 on Tuesday. The company has a market cap of $275.03 billion, a P/E ratio of 26.38, a P/E/G ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company’s 50-day moving average price is $62.62 and its 200-day moving average price is $66.41. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction 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 in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KO has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Piper Sandler lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Truist Financial lifted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays dropped their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company 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.