Luken Investment Analytics LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 19.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,150 shares of the company’s stock after purchasing an additional 350 shares during the quarter. Luken Investment Analytics LLC’s holdings in Coca-Cola were worth $134,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of KO. Fiduciary Advisors Inc. acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $126,000. Cibc World Market Inc. increased its holdings in shares of Coca-Cola by 20.2% in the 4th quarter. Cibc World Market Inc. now owns 2,164,106 shares of the company’s stock valued at $134,737,000 after acquiring an additional 364,362 shares during the last quarter. Mediolanum International Funds Ltd raised its position in shares of Coca-Cola by 123.8% during the 4th quarter. Mediolanum International Funds Ltd now owns 702,584 shares of the company’s stock valued at $43,474,000 after acquiring an additional 388,682 shares in the last quarter. Crews Bank & Trust bought a new stake in Coca-Cola during the fourth quarter valued at $920,000. Finally, Capital Investment Advisory Services LLC raised its holdings in shares of Coca-Cola by 3.0% during the fourth quarter. Capital Investment Advisory Services LLC now owns 37,397 shares of the company’s stock worth $2,328,000 after purchasing an additional 1,081 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on KO shares. Wells Fargo & Company cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. UBS Group reduced their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.13.
Insider Buying and Selling
In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.
Coca-Cola Price Performance
NYSE KO opened at $64.05 on Friday. 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 capitalization of $275.90 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 3.52 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 50 day moving average price of $62.65 and a two-hundred day moving average price of $66.38.
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.
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