GDS Wealth Management Decreases Stock Position in The Coca-Cola Company (NYSE:KO)

GDS Wealth Management cut its stake in The Coca-Cola Company (NYSE:KO) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 8,441 shares of the company’s stock after selling 223 shares during the quarter. GDS Wealth Management’s holdings in Coca-Cola were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quarry LP acquired a new stake in Coca-Cola in the second quarter valued at $27,000. Czech National Bank raised its stake in Coca-Cola by 6.9% in the third quarter. Czech National Bank now owns 790,169 shares of the company’s stock valued at $56,782,000 after buying an additional 51,339 shares in the last quarter. GAMMA Investing LLC raised its stake in Coca-Cola by 25.7% in the third quarter. GAMMA Investing LLC now owns 72,924 shares of the company’s stock valued at $5,240,000 after buying an additional 14,907 shares in the last quarter. Diversified Trust Co raised its stake in Coca-Cola by 0.6% in the third quarter. Diversified Trust Co now owns 553,864 shares of the company’s stock valued at $39,801,000 after buying an additional 3,550 shares in the last quarter. Finally, Consilio Wealth Advisors LLC raised its stake in Coca-Cola by 14.4% in the third quarter. Consilio Wealth Advisors LLC now owns 4,088 shares of the company’s stock valued at $294,000 after buying an additional 516 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of analyst reports. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their target price 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. 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 report on Tuesday, January 7th. Piper Sandler cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Price Performance

Shares of KO opened at $63.36 on Tuesday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock’s 50 day moving average is $62.65 and its two-hundred day moving average is $66.39. The firm has a market capitalization of $272.95 billion, a PE ratio of 26.18, a P/E/G ratio of 3.56 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

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.