BOCHK Asset Management Ltd Makes New $355,000 Investment in The Coca-Cola Company (NYSE:KO)

BOCHK Asset Management Ltd bought a new position in The Coca-Cola Company (NYSE:KO) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 5,700 shares of the company’s stock, valued at approximately $355,000.

Several other large investors have also bought and sold shares of KO. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. UBS Group reduced their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $71.93.

Coca-Cola Stock Performance

KO opened at $62.34 on Wednesday. The stock has a market capitalization of $268.55 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 3.38 and a beta of 0.61. The company has a fifty day moving average of $62.65 and a 200 day moving average of $66.41. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two 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.

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.