Plimoth Trust Co. LLC Reduces Stock Holdings in The Coca-Cola Company (NYSE:KO)

Plimoth Trust Co. LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,410 shares of the company’s stock after selling 967 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Coca-Cola were worth $3,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after buying an additional 2,966,964 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after buying an additional 1,609,565 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after buying an additional 177,241 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value 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 trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.9 %

Shares of KO traded up $0.55 during midday trading on Wednesday, hitting $62.91. 1,850,998 shares of the stock were exchanged, compared to its average volume of 15,995,169. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The stock has a fifty day simple moving average of $62.65 and a 200 day simple moving average of $66.41. The firm has a market cap of $270.99 billion, a P/E ratio of 25.96, a P/E/G ratio of 3.38 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KO shares. Truist Financial upped their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday. UBS Group reduced their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.93.

About Coca-Cola

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.