The Coca-Cola Company (NYSE:KO) Shares Sold by Stone Summit Wealth LLC

Stone Summit Wealth LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,810 shares of the company’s stock after selling 1,300 shares during the period. Stone Summit Wealth LLC’s holdings in Coca-Cola were worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in KO. FMR LLC raised its position in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Geode Capital Management LLC increased its stake in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP raised its holdings in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Franklin Resources Inc. boosted its position in Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Coca-Cola by 1.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,959,522 shares of the company’s stock valued at $744,600,000 after purchasing an additional 166,199 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KO has been the subject of several research analyst reports. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. 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 note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Piper Sandler lowered 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. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.19.

Coca-Cola Trading Up 0.8 %

NYSE:KO opened at $63.84 on Monday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a market cap of $275.03 billion, a PE ratio of 26.38, a P/E/G ratio of 3.55 and a beta of 0.61. The business’s 50 day moving average is $62.53 and its two-hundred day moving average is $66.32.

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.