Minot Wealth Management LLC reduced its holdings in The Coca-Cola Company (NYSE:KO) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,433 shares of the company’s stock after selling 450 shares during the period. Minot Wealth Management LLC’s holdings in The Coca-Cola were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of KO. BlackRock Inc. lifted its stake in shares of The Coca-Cola by 1.1% in the third quarter. BlackRock Inc. now owns 301,442,831 shares of the company’s stock worth $14,882,230,000 after buying an additional 3,404,545 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of The Coca-Cola by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 35,887,212 shares of the company’s stock worth $1,771,752,000 after buying an additional 1,552,809 shares in the last quarter. Morgan Stanley lifted its stake in shares of The Coca-Cola by 3.2% in the third quarter. Morgan Stanley now owns 45,242,925 shares of the company’s stock worth $2,233,644,000 after buying an additional 1,413,048 shares in the last quarter. Coho Partners Ltd. increased its position in The Coca-Cola by 40.5% during the fourth quarter. Coho Partners Ltd. now owns 4,291,339 shares of the company’s stock worth $235,337,000 after purchasing an additional 1,237,232 shares during the last quarter. Finally, M&G Investment Management Ltd. increased its position in The Coca-Cola by 8,926.2% during the third quarter. M&G Investment Management Ltd. now owns 1,150,662 shares of the company’s stock worth $56,382,000 after purchasing an additional 1,137,914 shares during the last quarter. 65.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KO stock opened at $48.15 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.01 and a current ratio of 1.13. The stock has a market capitalization of $206.92 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 5.70 and a beta of 0.58. The company has a 50 day moving average price of $51.60 and a 200 day moving average price of $50.28. The Coca-Cola Company has a fifty-two week low of $36.27 and a fifty-two week high of $60.13.
Several research firms recently issued reports on KO. Royal Bank of Canada cut shares of The Coca-Cola from an “outperform” rating to a “sector perform” rating and set a $55.00 price objective for the company. in a research report on Monday, January 4th. Deutsche Bank Aktiengesellschaft cut shares of The Coca-Cola from a “buy” rating to a “hold” rating and cut their price objective for the stock from $57.00 to $55.00 in a research report on Tuesday, January 5th. Sanford C. Bernstein began coverage on shares of The Coca-Cola in a research report on Tuesday, January 19th. They set an “outperform” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. cut shares of The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Thursday, January 7th. Finally, UBS Group raised their price objective on shares of The Coca-Cola from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $54.39.
In related news, Director David B. Weinberg sold 100,000 shares of The Coca-Cola stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $52.65, for a total value of $5,265,000.00. Following the completion of the transaction, the director now owns 355,214 shares in the company, valued at $18,702,017.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.01% of the company’s stock.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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