Foster Victor Wealth Advisors LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Foster Victor Wealth Advisors LLC grew its position in The Coca-Cola Company (NYSE:KO) by 29.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,120 shares of the company’s stock after acquiring an additional 4,123 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Coca-Cola were worth $1,136,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KO. Quarry LP purchased a new position in Coca-Cola during the second quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at approximately $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola in the 3rd quarter valued at $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on KO shares. Piper Sandler cut their target price 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. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. UBS Group decreased their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.93.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO stock opened at $62.34 on Wednesday. The firm’s 50-day moving average is $62.65 and its two-hundred day moving average is $66.41. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market capitalization of $268.55 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

Coca-Cola Company 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.