SteelPeak Wealth LLC Sells 67,680 Shares of The Coca-Cola Company (NYSE:KO)

SteelPeak Wealth LLC cut its position in The Coca-Cola Company (NYSE:KO) by 44.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 84,932 shares of the company’s stock after selling 67,680 shares during the quarter. SteelPeak Wealth LLC’s holdings in Coca-Cola were worth $5,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quarry LP bought a new stake in Coca-Cola during the 2nd quarter valued at approximately $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the third quarter worth $36,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the fourth quarter worth $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the 3rd quarter valued at $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In related 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 value 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. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.93.

Coca-Cola Trading Down 2.4 %

Shares of KO stock opened at $62.34 on Wednesday. The company has a market capitalization of $268.55 billion, a P/E ratio of 25.76, 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 company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a 50-day moving average price of $62.66 and a 200 day moving average price of $66.42.

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.