Patton Albertson Miller Group LLC Sells 1,678 Shares of The Coca-Cola Company (NYSE:KO)

Patton Albertson Miller Group LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,405 shares of the company’s stock after selling 1,678 shares during the period. Patton Albertson Miller Group LLC’s holdings in Coca-Cola were worth $7,123,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KO. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter valued at $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the third quarter valued at approximately $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the 4th quarter worth $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola in the third quarter worth about $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 0.7 %

Shares of NYSE KO opened at $61.98 on Friday. 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 50-day moving average of $62.62 and a 200 day moving average of $66.36. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The stock has a market cap of $267.01 billion, a PE ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction 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 trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on KO. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley reduced 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. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Piper Sandler dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.07.

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.