Forsta AP Fonden Sells 1,000 Shares of The Coca-Cola Company (NYSE:KO)

Forsta AP Fonden lessened its position in The Coca-Cola Company (NYSE:KO) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,172,000 shares of the company’s stock after selling 1,000 shares during the period. Coca-Cola comprises about 0.5% of Forsta AP Fonden’s portfolio, making the stock its 26th largest holding. Forsta AP Fonden’s holdings in Coca-Cola were worth $72,969,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Quarry LP acquired a new stake in Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the 4th quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Coca-Cola in the third quarter valued at about $43,000. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.93.

Coca-Cola Price Performance

Shares of NYSE KO opened at $62.34 on Wednesday. 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 company has a market capitalization of $268.55 billion, a PE ratio of 25.76, a PEG ratio of 3.38 and a beta of 0.61. The stock’s 50 day moving average price is $62.65 and its 200-day moving average price is $66.41. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

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.