Busey Bank Trims Position in The Coca-Cola Company (NYSE:KO)

Busey Bank reduced its position in The Coca-Cola Company (NYSE:KO) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,298 shares of the company’s stock after selling 1,100 shares during the period. Busey Bank’s holdings in Coca-Cola were worth $2,633,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Apella Capital LLC increased its stake in Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after purchasing an additional 146 shares during the last quarter. Investment Advisory Group LLC grew its holdings in Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after buying an additional 146 shares during the period. CCG Wealth Management LLC increased its stake in shares of Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after acquiring an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. lifted its holdings in shares of Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after acquiring an additional 150 shares during the period. Finally, Chapin Davis Inc. boosted its position in shares of Coca-Cola by 1.0% in the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after acquiring an additional 153 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Up 0.8 %

Shares of KO opened at $62.86 on Thursday. 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 Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The stock has a 50-day moving average price of $62.65 and a 200 day moving average price of $66.41. The company has a market capitalization of $270.77 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.38 and a beta of 0.61.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of several research analyst reports. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays cut their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a research note on Thursday. Finally, UBS Group dropped their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

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.