Warner Financial Inc. Purchases New Shares in The Coca-Cola Company (NYSE:KO)

Warner Financial Inc. acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) in the fourth quarter, Holdings Channel reports. The fund acquired 3,613 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harvest Portfolios Group Inc. acquired a new position in shares of Coca-Cola in the third quarter worth $18,383,000. Balentine LLC boosted its position in shares of Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after acquiring an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC grew its stake in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after acquiring an additional 59,503 shares during the last quarter. Fiduciary Alliance LLC grew its stake in shares of Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after acquiring an additional 8,499 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Coca-Cola by 5.8% during the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after acquiring an additional 46,541 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 3.1 %

Shares of NYSE:KO opened at $63.84 on Tuesday. The company’s 50-day moving average price is $62.62 and its two-hundred day moving average price is $66.41. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. 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 stock has a market capitalization of $275.03 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

Analyst Ratings Changes

KO has been the topic of several research reports. 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 report on Thursday, January 23rd. Wells Fargo & Company 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 7th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. UBS Group lowered their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.07.

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.