Golden State Equity Partners Acquires 7,527 Shares of The Coca-Cola Company (NYSE:KO)

Golden State Equity Partners raised its holdings in The Coca-Cola Company (NYSE:KO) by 113.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,164 shares of the company’s stock after buying an additional 7,527 shares during the quarter. Golden State Equity Partners’ holdings in Coca-Cola were worth $882,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Avantra Family Wealth Inc. bought a new position in Coca-Cola in the fourth quarter worth about $209,000. SYM FINANCIAL Corp raised its position in shares of Coca-Cola by 19.7% in the 4th quarter. SYM FINANCIAL Corp now owns 9,403 shares of the company’s stock worth $585,000 after acquiring an additional 1,545 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Coca-Cola by 3.0% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 114,677 shares of the company’s stock valued at $7,140,000 after purchasing an additional 3,298 shares during the period. Independence Bank of Kentucky boosted its position in shares of Coca-Cola by 4.4% during the fourth quarter. Independence Bank of Kentucky now owns 41,788 shares of the company’s stock valued at $2,602,000 after purchasing an additional 1,766 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC grew its stake in Coca-Cola by 28.7% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 8,215 shares of the company’s stock worth $511,000 after purchasing an additional 1,833 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KO shares. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. 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. Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Two research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Stock Down 0.9 %

Shares of Coca-Cola stock opened at $63.46 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a market cap of $273.38 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 3.52 and a beta of 0.61. The company’s 50 day moving average is $62.65 and its 200 day moving average is $66.38.

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.