MilWealth Group LLC Makes New $40,000 Investment in The Coca-Cola Company (NYSE:KO)

MilWealth Group LLC bought a new stake in The Coca-Cola Company (NYSE:KO) in the 4th quarter, HoldingsChannel.com reports. The firm bought 640 shares of the company’s stock, valued at approximately $40,000.

A number of other hedge funds have also recently modified their holdings of KO. Quarry LP purchased a new stake in Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter worth $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola during the 3rd quarter worth $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. UBS Group decreased their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Piper Sandler dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Two equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $63.46 on Monday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The firm has a market capitalization of $273.38 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The business’s 50 day simple moving average is $62.65 and its 200-day simple moving average is $66.38. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola 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 value of $6,403,000.00. Following 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 accessible through the SEC website. 0.97% of the stock is owned by corporate 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.