The Coca-Cola Company (NYSE:KO) Shares Purchased by Proathlete Wealth Management LLC

Proathlete Wealth Management LLC raised its position in shares of The Coca-Cola Company (NYSE:KO) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,979 shares of the company’s stock after buying an additional 520 shares during the quarter. Proathlete Wealth Management LLC’s holdings in Coca-Cola were worth $684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $63.84 on Tuesday. The stock has a market cap of $275.03 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The business has a fifty day simple moving average of $62.62 and a 200-day simple moving average of $66.41. 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 Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Insider Transactions at Coca-Cola

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

Analyst Ratings Changes

Several analysts recently commented on KO shares. Piper Sandler lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has an average 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.