Ballentine Partners LLC Reduces Position in CocaCola Company (The) $KO

Ballentine Partners LLC trimmed its holdings in CocaCola Company (The) (NYSE:KO) by 25.5% during the third quarter, HoldingsChannel reports. The firm owned 62,492 shares of the company’s stock after selling 21,348 shares during the period. Ballentine Partners LLC’s holdings in CocaCola were worth $4,144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Requisite Capital Management LLC boosted its stake in CocaCola by 2.8% during the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock worth $377,000 after buying an additional 142 shares during the last quarter. Paulson Wealth Management Inc. boosted its position in shares of CocaCola by 2.2% during the 2nd quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock valued at $479,000 after acquiring an additional 149 shares during the last quarter. Summitry LLC grew its holdings in shares of CocaCola by 1.9% in the second quarter. Summitry LLC now owns 7,865 shares of the company’s stock valued at $556,000 after purchasing an additional 149 shares during the period. Ashton Thomas Securities LLC increased its position in CocaCola by 1.2% during the third quarter. Ashton Thomas Securities LLC now owns 12,656 shares of the company’s stock worth $835,000 after purchasing an additional 149 shares during the last quarter. Finally, Cetera Trust Company N.A raised its stake in CocaCola by 0.5% during the second quarter. Cetera Trust Company N.A now owns 30,371 shares of the company’s stock worth $2,149,000 after purchasing an additional 150 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CocaCola

In other news, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the completion of the transaction, the executive vice president owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the sale, the executive vice president directly owned 58,067 shares in the company, valued at approximately $4,111,143.60. The trade was a 70.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 211,704 shares of company stock valued at $15,005,595. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Piper Sandler raised their target price on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. TD Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Bank of America increased their price target on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company boosted their price objective on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $79.08.

CocaCola Price Performance

KO stock opened at $73.53 on Wednesday. The business’s fifty day moving average price is $70.75 and its 200 day moving average price is $69.41. CocaCola Company has a 12-month low of $62.28 and a 12-month high of $74.38. The company has a market capitalization of $316.28 billion, a PE ratio of 24.35, a P/E/G ratio of 3.73 and a beta of 0.39. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.