The Coca-Cola Company (NYSE:KO) Shares Sold by Kennedy Investment Group

Kennedy Investment Group cut its holdings in The Coca-Cola Company (NYSE:KO) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,311 shares of the company’s stock after selling 279 shares during the quarter. Kennedy Investment Group’s holdings in Coca-Cola were worth $1,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP purchased a new position in Coca-Cola during the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the third quarter worth approximately $36,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola during the third quarter worth approximately $43,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $37,000. 70.26% of the stock is currently owned by institutional investors.

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 firm has a market capitalization of $268.55 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The business has a fifty day moving average price of $62.66 and a 200-day moving average price of $66.42.

Insider Activity at Coca-Cola

In related 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 transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.97% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on KO. JPMorgan Chase & Co. lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. UBS Group dropped their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Barclays dropped their price target 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. Finally, Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $71.93.

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.