The Coca-Cola Company (NYSE:KO) Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. cut its holdings in The Coca-Cola Company (NYSE:KO) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,742 shares of the company’s stock after selling 2,584 shares during the quarter. Ninety One North America Inc.’s holdings in Coca-Cola were worth $1,229,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of KO. Harvest Portfolios Group Inc. purchased a new stake in shares of Coca-Cola in the third quarter valued at about $18,383,000. Balentine LLC boosted its holdings in shares of Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after acquiring an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after acquiring an additional 59,503 shares in the last quarter. Rice Partnership LLC boosted its holdings 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 valued at $6,397,000 after acquiring an additional 6,793 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its holdings in shares of Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after acquiring an additional 8,499 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Stock Up 0.2 %

Shares of NYSE:KO opened at $63.49 on Tuesday. The stock has a market capitalization of $273.50 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The company’s fifty day moving average is $62.65 and its two-hundred day moving average is $66.39. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

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.