Caprock Group LLC Sells 846 Shares of The Coca-Cola Company (NYSE:KO)

Caprock Group LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,729 shares of the company’s stock after selling 846 shares during the period. Caprock Group LLC’s holdings in Coca-Cola were worth $3,532,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in KO. Quarry LP purchased a new position in Coca-Cola during the 2nd quarter valued at about $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the third quarter valued at approximately $36,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the fourth quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola during the third quarter worth $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Piper Sandler reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday. Barclays cut 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, UBS Group lowered 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. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.13.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.9 %

NYSE KO opened at $63.46 on Friday. The company has a fifty day moving average of $62.65 and a 200 day moving average of $66.37. The company has a market capitalization of $273.38 billion, a PE ratio of 26.22, a P/E/G ratio of 3.52 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

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.