The Coca-Cola Company (NYSE:KO) Shares Bought by abrdn plc

abrdn plc lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 0.3% in the 4th quarter, Holdings Channel reports. The fund owned 7,238,640 shares of the company’s stock after buying an additional 22,904 shares during the period. Coca-Cola comprises 0.8% of abrdn plc’s investment portfolio, making the stock its 17th biggest holding. abrdn plc’s holdings in Coca-Cola were worth $447,963,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of KO. Trust Point Inc. grew its position in Coca-Cola by 4.6% in the 4th quarter. Trust Point Inc. now owns 22,868 shares of the company’s stock valued at $1,424,000 after buying an additional 1,006 shares in the last quarter. Fourpath Capital Management LLC lifted its stake in Coca-Cola by 3.4% during the fourth quarter. Fourpath Capital Management LLC now owns 53,402 shares of the company’s stock valued at $3,325,000 after buying an additional 1,764 shares in the last quarter. Financial Life Planners purchased a new stake in Coca-Cola during the fourth quarter valued at about $103,000. Rice Partnership LLC lifted its position in shares of Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares in the last quarter. Finally, S.A. Mason LLC increased its holdings in Coca-Cola by 4.0% in the fourth quarter. S.A. Mason LLC now owns 8,702 shares of the company’s stock worth $542,000 after buying an additional 334 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on KO. JPMorgan Chase & Co. lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Piper Sandler cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given 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.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $63.36 on Tuesday. The stock’s fifty day moving average price is $62.65 and its two-hundred day moving average price is $66.39. The firm has a market cap of $272.95 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 3.56 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 one year low of $57.93 and a one 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.