The Coca-Cola Company (NYSE:KO) Shares Sold by Optas LLC

Optas LLC lowered its stake in The Coca-Cola Company (NYSE:KO) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,683 shares of the company’s stock after selling 234 shares during the quarter. Optas LLC’s holdings in Coca-Cola were worth $478,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Quarry LP acquired a new position in Coca-Cola during the 2nd quarter worth $27,000. Hara Capital LLC acquired a new position in Coca-Cola in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the third quarter valued at about $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $37,000. Finally, MilWealth Group LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $40,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

KO opened at $63.36 on Tuesday. The business’s 50-day simple moving average is $62.65 and its 200 day simple moving average is $66.39. 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 quick ratio of 0.90 and a current ratio of 1.06. The firm has a market capitalization of $272.95 billion, a PE ratio of 26.18, a PEG ratio of 3.56 and a beta of 0.61.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KO shares. Piper Sandler reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.13.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated 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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

Coca-Cola 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.