BOCHK Asset Management Ltd Takes Position in The Coca-Cola Company (NYSE:KO)

BOCHK Asset Management Ltd acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,700 shares of the company’s stock, valued at approximately $355,000.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Coca-Cola in the 2nd quarter worth $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola in the 4th quarter worth $37,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola in the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 2.4 %

NYSE:KO opened at $62.34 on Wednesday. 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 company’s 50-day simple moving average is $62.65 and its 200 day simple moving average is $66.41. The firm has a market capitalization of $268.55 billion, a P/E ratio of 25.76, a PEG ratio of 3.38 and a beta of 0.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their price target 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. UBS Group cut 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. JPMorgan Chase & Co. cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.93.

Insider Buying and Selling

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

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.