Elevate Capital Advisors Cuts Coca-Cola Stake by Almost Half

Elevate Capital Advisors LLC reduced its stake in Coca-Cola Company (The) by 45.8% in Q2, according to a recent SEC filing.

The institutional investor sold 15,102 shares during the period, leaving it with 17,902 shares worth $1,455,000 at the end of Q2.

Elevate Capital Advisors LLC is not the only one making changes to its position in Coca-Cola. Other hedge funds have also been buying and selling the company's stock. Eurizon SLJ Capital Ltd purchased a new stake in Coca-Cola worth $552,000 in Q4, while Banco Santander S.A. raised its position by 3.1% in the same quarter.

The sale of shares by Elevate Capital Advisors LLC is not necessarily a cause for concern, as some of the sold shares were used to cover tax-withholding obligations related to vested equity awards.