Money Concepts Capital Corp Grows Stock Position in The Coca-Cola Company (NYSE:KO)

Money Concepts Capital Corp grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 92,577 shares of the company’s stock after purchasing an additional 1,656 shares during the quarter. Money Concepts Capital Corp’s holdings in Coca-Cola were worth $5,764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Advisory Group LLC grew its position in shares of Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after purchasing an additional 146 shares during the period. CCG Wealth Management LLC boosted its holdings in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after buying an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. increased its stake in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after buying an additional 150 shares in the last quarter. Chapin Davis Inc. raised its holdings in shares of Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after acquiring an additional 153 shares during the last quarter. Finally, Blossom Wealth Management lifted its position in shares of Coca-Cola by 3.3% in the third quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after acquiring an additional 155 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 1.1 %

Shares of NYSE KO opened at $62.68 on Wednesday. The stock has a fifty day simple moving average of $62.59 and a 200-day simple moving average of $66.36. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $270.00 billion, a PE ratio of 25.90, a PEG ratio of 3.56 and a beta of 0.61.

Analyst Upgrades and Downgrades

Several research firms recently commented on KO. Wells Fargo & Company reduced their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Piper Sandler lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Barclays cut their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

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.