abrdn plc Grows Holdings in The Coca-Cola Company (NYSE:KO)

abrdn plc grew its stake in The Coca-Cola Company (NYSE:KO) by 0.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,238,640 shares of the company’s stock after acquiring an additional 22,904 shares during the period. Coca-Cola comprises 0.8% of abrdn plc’s investment portfolio, making the stock its 17th biggest holding. abrdn plc owned approximately 0.17% of Coca-Cola worth $447,963,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola during the 4th quarter worth $37,000. Finally, MilWealth Group LLC purchased a new position in Coca-Cola during the 4th quarter worth $40,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE:KO opened at $63.36 on Tuesday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a market capitalization of $272.95 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The firm has a 50-day moving average price of $62.65 and a two-hundred day moving average price of $66.39. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on KO shares. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. UBS Group cut their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Truist Financial increased their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

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.