The Coca-Cola Company (NYSE:KO) Position Increased by Concord Wealth Partners

Concord Wealth Partners lifted its holdings in The Coca-Cola Company (NYSE:KO) by 13.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 75,961 shares of the company’s stock after purchasing an additional 8,774 shares during the period. Coca-Cola comprises approximately 0.8% of Concord Wealth Partners’ portfolio, making the stock its 29th largest holding. Concord Wealth Partners’ holdings in Coca-Cola were worth $4,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of KO. FMR LLC grew its position in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC grew its position in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Franklin Resources Inc. raised its holdings in shares of Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after buying an additional 1,609,565 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Coca-Cola by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock worth $847,468,000 after buying an additional 222,028 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $69.00 to $75.00 in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group cut their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Trading Down 0.9 %

NYSE:KO opened at $63.46 on Friday. The company has a market capitalization of $273.38 billion, a P/E ratio of 26.22, a P/E/G ratio of 3.52 and a beta of 0.61. The stock’s 50 day moving average price is $62.65 and its 200 day moving average price is $66.37. 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 52 week low of $57.93 and a 52 week high of $73.53.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred 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 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 represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is currently owned by company insiders.

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.