Blue Trust Inc. Boosts Stake in The Coca-Cola Company (NYSE:KO)

Blue Trust Inc. raised its holdings in The Coca-Cola Company (NYSE:KO) by 185.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 859,574 shares of the company’s stock after purchasing an additional 558,505 shares during the quarter. Coca-Cola accounts for 0.6% of Blue Trust Inc.’s holdings, making the stock its 27th largest holding. Blue Trust Inc.’s holdings in Coca-Cola were worth $53,517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Oliver Lagore Vanvalin Investment Group grew its stake in Coca-Cola by 29.2% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 1,878 shares of the company’s stock worth $120,000 after purchasing an additional 425 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its stake in Coca-Cola by 64.0% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 5,704 shares of the company’s stock worth $363,000 after purchasing an additional 2,226 shares in the last quarter. Kathmere Capital Management LLC grew its stake in Coca-Cola by 13.9% during the 2nd quarter. Kathmere Capital Management LLC now owns 5,605 shares of the company’s stock worth $357,000 after purchasing an additional 683 shares in the last quarter. Bontempo Ohly Capital Mgmt LLC grew its stake in Coca-Cola by 1.4% during the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 67,878 shares of the company’s stock worth $4,320,000 after purchasing an additional 930 shares in the last quarter. Finally, Creative Planning grew its stake in Coca-Cola by 3.8% during the 2nd quarter. Creative Planning now owns 1,781,928 shares of the company’s stock worth $113,420,000 after purchasing an additional 65,533 shares in the last quarter. Hedge funds and other institutional investors 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 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $61.98 on Monday. The business’s fifty day moving average price is $62.62 and its two-hundred day moving average price is $66.39. The stock has a market cap of $267.01 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. 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.

Analysts Set New Price Targets

Several research firms have recently issued reports on KO. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. Wells Fargo & Company reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $72.07.

Coca-Cola Company 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.