State of Alaska Department of Revenue Sells 15,560 Shares of The Coca-Cola Company (NYSE:KO)

State of Alaska Department of Revenue decreased its position in The Coca-Cola Company (NYSE:KO) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 442,222 shares of the company’s stock after selling 15,560 shares during the quarter. State of Alaska Department of Revenue’s holdings in Coca-Cola were worth $27,532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Advisory Group LLC lifted its holdings in shares of Coca-Cola by 4.5% during 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 in the last quarter. CCG Wealth Management LLC lifted its stake in Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after acquiring an additional 149 shares during the period. Investment Partners Asset Management Inc. boosted its holdings in shares of Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after acquiring an additional 150 shares during the last quarter. Blossom Wealth Management grew its stake 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 worth $351,000 after acquiring an additional 155 shares during the period. Finally, Peddock Capital Advisors LLC raised its holdings in shares of Coca-Cola by 0.5% during the third quarter. Peddock Capital Advisors LLC now owns 32,437 shares of the company’s stock valued at $2,331,000 after purchasing an additional 159 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the 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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of 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 research report on Thursday, January 30th. UBS Group reduced their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Barclays dropped their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company cut their target price 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. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Trading Up 0.7 %

Shares of KO opened at $63.13 on Thursday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a 50 day simple moving average of $62.59 and a two-hundred day simple moving average of $66.36. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market cap of $271.94 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

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.