The Coca-Cola Company (NYSE:KO) Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,874 shares of the company’s stock after purchasing an additional 1,096 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Coca-Cola were worth $988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Coca-Cola in the 2nd quarter valued at $27,000. EP Wealth Advisors LLC boosted its position in shares of Coca-Cola by 2.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 98,187 shares of the company’s stock valued at $6,250,000 after acquiring an additional 2,032 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Coca-Cola by 1.2% in the second quarter. Pathway Financial Advisers LLC now owns 34,875 shares of the company’s stock valued at $2,216,000 after purchasing an additional 416 shares during the period. Truist Financial Corp increased its position in Coca-Cola by 1.1% during the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after purchasing an additional 177,241 shares during the last quarter. Finally, Advisory Alpha LLC raised its stake in Coca-Cola by 6.0% during the second quarter. Advisory Alpha LLC now owns 14,101 shares of the company’s stock worth $898,000 after purchasing an additional 804 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company’s 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 sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $62.34 on Wednesday. The firm has a 50 day moving average of $62.66 and a two-hundred day moving average of $66.42. The stock has a market capitalization of $268.55 billion, a PE ratio of 25.76, a P/E/G ratio of 3.38 and a beta of 0.61. 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 Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KO. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Barclays reduced their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.93.

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.