OLD National Bancorp IN Increases Stake in The Coca-Cola Company (NYSE:KO)

OLD National Bancorp IN raised its position in The Coca-Cola Company (NYSE:KO) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 60,312 shares of the company’s stock after purchasing an additional 2,276 shares during the period. OLD National Bancorp IN’s holdings in Coca-Cola were worth $3,755,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First Affirmative Financial Network increased its stake in shares of Coca-Cola by 13.2% in the 4th quarter. First Affirmative Financial Network now owns 7,954 shares of the company’s stock worth $495,000 after acquiring an additional 929 shares during the last quarter. Synergy Asset Management LLC increased its position in shares of Coca-Cola by 9,502.6% during the 4th quarter. Synergy Asset Management LLC now owns 510,860 shares of the company’s stock worth $31,592,000 after purchasing an additional 505,540 shares during the last quarter. Highland Capital Management LLC increased its position in shares of Coca-Cola by 56.7% during the 4th quarter. Highland Capital Management LLC now owns 81,995 shares of the company’s stock worth $5,105,000 after purchasing an additional 29,675 shares during the last quarter. Hanson & Doremus Investment Management increased its position in shares of Coca-Cola by 11.5% during the 4th quarter. Hanson & Doremus Investment Management now owns 43,514 shares of the company’s stock worth $2,709,000 after purchasing an additional 4,484 shares during the last quarter. Finally, Field & Main Bank increased its position in shares of Coca-Cola by 6.0% during the 4th quarter. Field & Main Bank now owns 43,639 shares of the company’s stock worth $2,717,000 after purchasing an additional 2,455 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $75.00 in a research report on Thursday. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. 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 report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Insider Buying and Selling

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 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of KO opened at $64.05 on Friday. The stock has a 50-day simple moving average of $62.65 and a 200-day simple moving average of $66.38. 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 stock has a market capitalization of $275.90 billion, a PE ratio of 26.47, a PEG ratio of 3.52 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

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.