AdvisorNet Financial Inc Sells 742 Shares of The Coca-Cola Company (NYSE:KO)

AdvisorNet Financial Inc trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 5.8% in the 4th quarter, Holdings Channel reports. The fund owned 12,131 shares of the company’s stock after selling 742 shares during the quarter. AdvisorNet Financial Inc’s holdings in Coca-Cola were worth $755,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Quarry LP bought a new position in shares of Coca-Cola during the second quarter valued at $27,000. Hara Capital LLC bought a new stake in Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the third quarter worth about $36,000. MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the third quarter worth approximately $43,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Coca-Cola in the third quarter worth approximately $58,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent analyst reports. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Barclays lowered their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Wells Fargo & Company cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $61.71 on Thursday. The stock has a market cap of $265.83 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a fifty day moving average price of $62.78 and a 200-day moving average price of $66.47. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

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

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were 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 in the company, valued at approximately $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 can be accessed through the SEC website. 0.97% of the stock is owned by company insiders.

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.