Schmidt P J Investment Management Inc. Has $207,000 Position in The Coca-Cola Company (NYSE:KO)

Schmidt P J Investment Management Inc. decreased its position in The Coca-Cola Company (NYSE:KO) by 36.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,328 shares of the company’s stock after selling 1,895 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Coca-Cola were worth $207,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Hara Capital LLC bought a new position in shares of Coca-Cola in the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the third quarter worth approximately $36,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola in the 3rd quarter valued at $43,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at about $37,000. Finally, MilWealth Group LLC bought a new position in shares of Coca-Cola during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the 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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on KO shares. Barclays cut their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Piper Sandler reduced their price target on shares of 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, JPMorgan Chase & Co. lowered 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 report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Stock Up 0.7 %

Coca-Cola stock opened at $63.13 on Thursday. The firm has a market cap of $271.94 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 3.56 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week 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. The firm has a 50 day moving average price of $62.59 and a two-hundred day moving average price of $66.36.

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.