Wright Investors Service Inc. Reduces Holdings in CocaCola Company (The) $KO

Wright Investors Service Inc. decreased its stake in shares of CocaCola Company (The) (NYSE:KO) by 23.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,776 shares of the company’s stock after selling 21,925 shares during the period. CocaCola makes up 1.4% of Wright Investors Service Inc.’s investment portfolio, making the stock its 18th largest holding. Wright Investors Service Inc.’s holdings in CocaCola were worth $4,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of KO. Caitong International Asset Management Co. Ltd boosted its position in CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of CocaCola in the 2nd quarter worth approximately $26,000. Marquette Asset Management LLC bought a new position in shares of CocaCola in the 3rd quarter worth approximately $27,000. GFG Capital LLC purchased a new position in shares of CocaCola in the 2nd quarter valued at approximately $34,000. Finally, MMA Asset Management LLC bought a new stake in shares of CocaCola during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

Shares of NYSE:KO opened at $70.50 on Friday. The business has a fifty day moving average price of $70.61 and a 200-day moving average price of $69.35. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The company has a market capitalization of $303.26 billion, a PE ratio of 23.34, a PEG ratio of 3.67 and a beta of 0.39. CocaCola Company has a 1-year low of $61.32 and a 1-year high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $12.46 billion. During the same quarter in the previous year, the business posted $0.77 EPS. CocaCola’s revenue was up 5.4% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.966-2.966 EPS. As a group, equities analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

Insider Transactions at CocaCola

In related news, 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 value of $9,889,981.20. Following the transaction, the executive vice president directly owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. This represents a 70.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 31,625 shares of the stock in a transaction 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 sale, the executive vice president owned 223,330 shares in the company, valued at approximately $15,894,396.10. This represents a 12.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 225,252 shares of company stock valued at $15,953,007. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KO has been the topic of several recent research reports. Wells Fargo & Company upped their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Finally, Bank of America boosted their price objective on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $79.08.

CocaCola Profile

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.