Stratos Investment Management LLC Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Stratos Investment Management LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,030 shares of the company’s stock after selling 683 shares during the quarter. Stratos Investment Management LLC’s holdings in Coca-Cola were worth $1,496,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Retirement Systems of Alabama increased its holdings in shares of Coca-Cola by 50.3% during the fourth quarter. Retirement Systems of Alabama now owns 1,812,940 shares of the company’s stock valued at $112,874,000 after acquiring an additional 606,328 shares in the last quarter. Sargent Investment Group LLC increased its holdings in shares of Coca-Cola by 7.1% during the fourth quarter. Sargent Investment Group LLC now owns 3,658 shares of the company’s stock valued at $226,000 after acquiring an additional 243 shares in the last quarter. Cassia Capital Partners LLC increased its holdings in shares of Coca-Cola by 41.2% during the fourth quarter. Cassia Capital Partners LLC now owns 16,345 shares of the company’s stock valued at $1,018,000 after acquiring an additional 4,769 shares in the last quarter. Tanager Wealth Management LLP increased its holdings in Coca-Cola by 41.0% in the 4th quarter. Tanager Wealth Management LLP now owns 4,315 shares of the company’s stock worth $269,000 after buying an additional 1,255 shares during the period. Finally, E. Ohman J or Asset Management AB increased its holdings in Coca-Cola by 11.5% in the 4th quarter. E. Ohman J or Asset Management AB now owns 184,340 shares of the company’s stock worth $11,477,000 after buying an additional 19,040 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO opened at $62.68 on Wednesday. The stock has a 50-day simple moving average of $62.62 and a 200-day simple moving average of $66.38. The stock has a market capitalization of $270.00 billion, a PE ratio of 25.90, a PEG ratio of 3.56 and a beta of 0.61. 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.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Piper Sandler cut their price target 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. JPMorgan Chase & Co. dropped 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 note on Tuesday, January 28th. Barclays dropped 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 note on Friday, January 17th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Wells Fargo & Company dropped 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 note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction 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 directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was 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.

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.