Evermay Wealth Management LLC Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

Evermay Wealth Management LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,104 shares of the company’s stock after selling 230 shares during the period. Evermay Wealth Management LLC’s holdings in Coca-Cola were worth $505,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Quarry LP bought a new position in Coca-Cola in the second quarter valued at about $27,000. Czech National Bank increased its position in shares of Coca-Cola by 6.9% during the 3rd quarter. Czech National Bank now owns 790,169 shares of the company’s stock valued at $56,782,000 after purchasing an additional 51,339 shares during the last quarter. Canandaigua National Bank & Trust Co. boosted its holdings in shares of Coca-Cola by 0.8% in the third quarter. Canandaigua National Bank & Trust Co. now owns 86,762 shares of the company’s stock worth $6,235,000 after buying an additional 731 shares during the last quarter. Apella Capital LLC boosted its holdings in shares of Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after buying an additional 146 shares during the last quarter. Finally, Duncan Williams Asset Management LLC bought a new stake in Coca-Cola during the third quarter valued at approximately $340,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’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 transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KO shares. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $75.00 in a research note on Thursday. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. UBS Group cut their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday. 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. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $63.46 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The firm has a market cap of $273.38 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 3.52 and a beta of 0.61. The firm has a fifty day moving average price of $62.65 and a 200 day moving average price of $66.37. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

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.