Cornerstone Wealth Group LLC Acquires 401 Shares of The Coca-Cola Company (NYSE:KO)

Cornerstone Wealth Group LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,376 shares of the company’s stock after acquiring an additional 401 shares during the period. Cornerstone Wealth Group LLC’s holdings in Coca-Cola were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in KO. FMR LLC lifted its stake in shares of Coca-Cola by 13.7% during the 3rd 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 raised its holdings in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after acquiring an additional 2,966,964 shares during the period. Wellington Management Group LLP lifted its position in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares during the period. Finally, Truist Financial Corp grew its position 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 valued at $1,041,479,000 after purchasing an additional 177,241 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

KO has been the subject of several recent research reports. 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 research note on Thursday, January 16th. Barclays decreased their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Finally, Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.07.

Coca-Cola Stock Performance

Coca-Cola stock opened at $61.98 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock has a market cap of $267.01 billion, a PE ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The business’s 50-day moving average price is $62.62 and its two-hundred day moving average price is $66.39.

Coca-Cola Profile

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.