Wealth Enhancement Advisory Services LLC Sells 233,671 Shares of CocaCola Company (The) $KO

Wealth Enhancement Advisory Services LLC cut its position in shares of CocaCola Company (The) (NYSE:KO) by 19.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 988,649 shares of the company’s stock after selling 233,671 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in CocaCola were worth $66,044,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of CocaCola during the second quarter valued at $26,000. Marquette Asset Management LLC bought a new position in shares of CocaCola during the third quarter valued at approximately $27,000. MMA Asset Management LLC purchased a new stake in shares of CocaCola during the second quarter valued at $34,000. Finally, GFG Capital LLC acquired a new position in shares of CocaCola in the 2nd quarter valued at $34,000. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the sale, the chief operating officer directly owned 62,621 shares in the company, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 31,625 shares of the stock in a transaction dated 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 directly owned 223,330 shares of the company’s stock, valued at $15,894,396.10. This represents a 12.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over 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.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Bank of America lifted their price objective on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. UBS Group restated a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. Finally, Barclays reiterated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $79.08.

CocaCola Stock Performance

NYSE KO traded down $0.18 during trading hours on Tuesday, hitting $70.26. 2,489,605 shares of the stock were exchanged, compared to its average volume of 17,178,557. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average of $70.60 and a 200 day moving average of $69.32. CocaCola Company has a 12-month low of $61.37 and a 12-month high of $74.38. The company has a market cap of $302.22 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 3.62 and a beta of 0.39.

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, beating 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 business had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $12.46 billion. During the same quarter last year, the firm posted $0.77 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

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.