Kovitz Investment Group Partners LLC Cuts Stake in The Coca-Cola Company (NYSE:KO)

Kovitz Investment Group Partners LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KOFree Report) by 27.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,914 shares of the company’s stock after selling 2,671 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Coca-Cola were worth $387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fairfield Bush & CO. purchased a new position in Coca-Cola during the 1st quarter valued at approximately $77,000. Merit Financial Group LLC grew its holdings in Coca-Cola by 16.7% during the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock valued at $758,000 after buying an additional 1,754 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock worth $9,255,000 after purchasing an additional 43,680 shares during the period. Ergoteles LLC boosted its holdings in shares of Coca-Cola by 385.3% in the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock worth $1,180,000 after purchasing an additional 15,110 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Coca-Cola by 11.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock worth $176,115,000 after purchasing an additional 301,804 shares during the period. Institutional investors own 68.96% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $59.56 on Monday. The business’s 50 day moving average price is $59.40 and its 200 day moving average price is $58.39. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.97 and a current ratio of 1.14. The company has a market cap of $257.50 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 3.34 and a beta of 0.59. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.99.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 92,028 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $57.15, for a total value of $5,259,400.20. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $25,291,503.90. The disclosure for this sale can be found here. Insiders sold a total of 289,052 shares of company stock valued at $16,834,665 over the last quarter. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays lifted their target price on Coca-Cola from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Citigroup boosted their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Bank of America dropped their price objective on Coca-Cola from $74.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Jefferies Financial Group started coverage on Coca-Cola in a report on Monday, November 13th. They set a “hold” rating and a $64.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $59.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, October 25th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $66.87.

Check Out Our Latest Stock Report on Coca-Cola

About Coca-Cola

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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