Essex Financial Services Inc. Has $5.71 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Essex Financial Services Inc. lessened its stake in The Coca-Cola Company (NYSE:KO) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,675 shares of the company’s stock after selling 2,958 shares during the quarter. Essex Financial Services Inc.’s holdings in Coca-Cola were worth $5,708,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hara Capital LLC acquired a new position in Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the third quarter worth $36,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the fourth quarter valued at $37,000. MilWealth Group LLC acquired a new stake in Coca-Cola in the 4th quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the 3rd quarter worth about $43,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of several analyst reports. Wells Fargo & Company decreased 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. 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 research report on Tuesday, January 28th. Piper Sandler dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. UBS Group decreased their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.19.

Coca-Cola Trading Up 1.2 %

Shares of KO stock opened at $64.58 on Tuesday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a market capitalization of $278.18 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The firm has a 50 day moving average price of $62.53 and a two-hundred day moving average price of $66.32. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola Profile

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.