The Coca-Cola Company (NYSE:KO) Stake Reduced by Bleakley Financial Group LLC

Bleakley Financial Group LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,480 shares of the company’s stock after selling 735 shares during the period. Bleakley Financial Group LLC’s holdings in Coca-Cola were worth $7,501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in KO. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $37,000. MilWealth Group LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola during the third quarter valued at $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.7 %

KO opened at $63.13 on Thursday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a market capitalization of $271.94 billion, a P/E ratio of 26.09, a P/E/G ratio of 3.56 and a beta of 0.61. 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’s fifty day moving average price is $62.59 and its two-hundred day moving average price is $66.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KO shares. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. 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. Barclays lowered their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Piper Sandler dropped their price objective 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, Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Insider Activity at Coca-Cola

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 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 approximately $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 the SEC website. 0.97% of the stock is currently owned by insiders.

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.