The Coca-Cola Company (NYSE:KO) Shares Sold by Kennedy Investment Group

Kennedy Investment Group cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,311 shares of the company’s stock after selling 279 shares during the period. Kennedy Investment Group’s holdings in Coca-Cola were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Coca-Cola during the second quarter worth about $27,000. EP Wealth Advisors LLC boosted its holdings in Coca-Cola by 2.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 98,187 shares of the company’s stock valued at $6,250,000 after purchasing an additional 2,032 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in Coca-Cola by 1.2% in the 2nd 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 last quarter. Truist Financial Corp boosted its holdings in Coca-Cola by 1.1% in the 2nd 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. Finally, Advisory Alpha LLC boosted its holdings in Coca-Cola by 6.0% in the 2nd quarter. Advisory Alpha LLC now owns 14,101 shares of the company’s stock valued at $898,000 after purchasing an additional 804 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 2.4 %

Coca-Cola stock opened at $62.34 on Wednesday. The company has a 50-day simple moving average of $62.66 and a 200-day simple moving average of $66.42. The firm 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 company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KO shares. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley lowered their price objective 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. Barclays lowered their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler lowered their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Two 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 stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $71.93.

Coca-Cola Company 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.