Cornerstone Wealth Group LLC Has $1.46 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Cornerstone Wealth Group LLC grew its position in shares of The Coca-Cola Company (NYSE:KO) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 23,376 shares of the company’s stock after buying an additional 401 shares during the period. Cornerstone Wealth Group LLC’s holdings in Coca-Cola were worth $1,455,000 as of its most recent SEC filing.

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

Insider Activity

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

Coca-Cola Stock Up 0.7 %

Shares of NYSE:KO opened at $61.98 on Monday. The stock’s 50-day moving average is $62.62 and its 200 day moving average is $66.39. The company has a market cap of $267.01 billion, a PE ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

Analysts Set New Price Targets

KO has been the topic of a number of analyst reports. Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Piper Sandler reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group dropped their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. 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, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.