Concord Asset Management LLC VA Grows Stake in The Coca-Cola Company (NYSE:KO)

Concord Asset Management LLC VA grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 12.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 66,704 shares of the company’s stock after acquiring an additional 7,515 shares during the period. Coca-Cola comprises about 0.9% of Concord Asset Management LLC VA’s holdings, making the stock its 27th largest position. Concord Asset Management LLC VA’s holdings in Coca-Cola were worth $4,153,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its holdings in Coca-Cola by 2.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 36,594 shares of the company’s stock worth $2,258,000 after buying an additional 962 shares in the last quarter. Everett Harris & Co. CA lifted its holdings in shares of Coca-Cola by 1.7% during the 4th quarter. Everett Harris & Co. CA now owns 110,469 shares of the company’s stock valued at $6,878,000 after buying an additional 1,861 shares during the period. Clear Creek Financial Management LLC lifted its holdings in Coca-Cola by 6.2% in the fourth quarter. Clear Creek Financial Management LLC now owns 11,860 shares of the company’s stock valued at $738,000 after acquiring an additional 691 shares during the period. N.E.W. Advisory Services LLC grew its position in shares of Coca-Cola by 1.7% during the 4th quarter. N.E.W. Advisory Services LLC now owns 10,285 shares of the company’s stock valued at $640,000 after acquiring an additional 175 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in Coca-Cola in the 4th quarter worth $243,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $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 SEC, which is available at the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.9 %

Shares of NYSE:KO opened at $63.46 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $62.65 and its 200 day moving average is $66.37. The stock has a market cap of $273.38 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 3.52 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Analyst Ratings Changes

A number of research firms have recently weighed in on KO. Barclays lowered 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 reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. UBS Group lowered their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Wells Fargo & Company decreased their target price on 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 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.