The Coca-Cola Company (NYSE:KO) Shares Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 24.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,744 shares of the company’s stock after acquiring an additional 2,276 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Coca-Cola were worth $731,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter worth $27,000. Sanctuary Advisors LLC purchased a new position in Coca-Cola in the 2nd quarter worth approximately $23,007,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Coca-Cola by 84.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,007,300 shares of the company’s stock valued at $64,115,000 after purchasing an additional 460,453 shares during the period. Ashburton Jersey Ltd acquired a new stake in shares of Coca-Cola during the second quarter valued at about $828,000. Finally, Mattson Financial Services LLC acquired a new stake in Coca-Cola during the 2nd quarter valued at approximately $2,636,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $64.05 on Friday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. 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 firm has a market capitalization of $275.90 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 3.52 and a beta of 0.61. The company has a 50 day simple moving average of $62.65 and a 200-day simple moving average of $66.37.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KO has been the topic of several research reports. Barclays cut 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. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $69.00 to $75.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

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.