Ridgecrest Wealth Partners LLC Has $1.85 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Ridgecrest Wealth Partners LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,758 shares of the company’s stock after buying an additional 177 shares during the period. Coca-Cola makes up about 1.0% of Ridgecrest Wealth Partners LLC’s investment portfolio, making the stock its 19th largest position. Ridgecrest Wealth Partners LLC’s holdings in Coca-Cola were worth $1,853,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KO. FMR LLC grew its holdings in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP lifted its position in Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Coca-Cola during the third quarter worth $269,382,000. Geode Capital Management LLC increased its holdings in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC raised its stake in shares of Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after buying an additional 2,443,612 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $61.98 on Monday. The stock’s fifty day simple moving average is $62.62 and its 200 day simple moving average is $66.41. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $267.01 billion, a PE ratio of 25.61, a PEG ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was 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 in the company, 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 document filed with the SEC, which is available at the SEC website. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on KO shares. Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial raised their price objective 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. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.07.

About Coca-Cola

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.