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

Concord Asset Management LLC VA lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,704 shares of the company’s stock after acquiring an additional 7,515 shares during the quarter. Coca-Cola accounts for 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.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP purchased a new position in Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the 3rd quarter worth $36,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola in the 3rd quarter worth about $43,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Coca-Cola in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KO. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a research report on Thursday. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Piper Sandler dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.13.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $63.46 on Friday. 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 50-day moving average price of $62.65 and a 200-day moving average price of $66.37. The company has a market cap of $273.38 billion, a price-to-earnings 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 12 month low of $57.93 and a 12 month high of $73.53.

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.