Mattern Wealth Management LLC Has $542,000 Position in The Coca-Cola Company (NYSE:KO)

Mattern Wealth Management LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,708 shares of the company’s stock after selling 170 shares during the period. Mattern Wealth Management LLC’s holdings in Coca-Cola were worth $542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of KO. Greenup Street Wealth Management LLC raised its position in Coca-Cola by 25.9% during the fourth quarter. Greenup Street Wealth Management LLC now owns 4,103 shares of the company’s stock valued at $255,000 after acquiring an additional 845 shares in the last quarter. BankPlus Wealth Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth about $447,000. Nilsine Partners LLC increased its holdings in shares of Coca-Cola by 10.0% during the 4th quarter. Nilsine Partners LLC now owns 45,856 shares of the company’s stock valued at $2,855,000 after acquiring an additional 4,175 shares during the last quarter. Cherry Creek Investment Advisors Inc. raised its stake in shares of Coca-Cola by 0.5% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 46,154 shares of the company’s stock valued at $2,874,000 after acquiring an additional 227 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in Coca-Cola by 17.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 63,763 shares of the company’s stock worth $3,970,000 after purchasing an additional 9,517 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 3.1 %

Shares of NYSE:KO opened at $63.84 on Tuesday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The firm has a market cap of $275.03 billion, a P/E ratio of 26.38, a P/E/G ratio of 3.38 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company’s 50-day moving average price is $62.62 and its two-hundred day moving average price is $66.41.

Wall Street Analyst Weigh In

KO has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Barclays dropped their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley decreased 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. UBS Group reduced their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. 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 report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.07.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.97% of the stock is currently owned by company insiders.

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.