Symphony Financial Ltd. Co. Lowers Stock Position in The Coca-Cola Company (NYSE:KO)

Symphony Financial Ltd. Co. reduced its position in The Coca-Cola Company (NYSE:KO) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,240 shares of the company’s stock after selling 381 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Coca-Cola were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter worth approximately $27,000. Czech National Bank grew its stake in Coca-Cola by 6.9% during the third quarter. Czech National Bank now owns 790,169 shares of the company’s stock worth $56,782,000 after buying an additional 51,339 shares during the period. Canandaigua National Bank & Trust Co. increased its position in shares of Coca-Cola by 0.8% in the third quarter. Canandaigua National Bank & Trust Co. now owns 86,762 shares of the company’s stock worth $6,235,000 after acquiring an additional 731 shares in the last quarter. Apella Capital LLC raised its stake in shares of Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after acquiring an additional 146 shares during the period. Finally, Duncan Williams Asset Management LLC acquired a new position in shares of Coca-Cola during the 3rd quarter valued at $340,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.9 %

Coca-Cola stock opened at $63.46 on Friday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm’s 50-day moving average is $62.65 and its 200-day moving average is $66.37. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market cap of $273.38 billion, a P/E ratio of 26.22, a PEG ratio of 3.52 and a beta of 0.61.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on KO. Barclays cut their price objective 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. Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. 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 research report on Thursday, December 12th. JPMorgan Chase & Co. decreased 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. Finally, Wells Fargo & Company dropped their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price 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.