Financial Partners Group Inc Decreases Stock Position in The Coca-Cola Company (NYSE:KO)

Financial Partners Group Inc reduced its position in The Coca-Cola Company (NYSE:KO) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,929 shares of the company’s stock after selling 734 shares during the period. Financial Partners Group Inc’s holdings in Coca-Cola were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Coca-Cola during the 2nd quarter valued at $27,000. Czech National Bank raised its stake in Coca-Cola by 6.9% during the 3rd quarter. Czech National Bank now owns 790,169 shares of the company’s stock valued at $56,782,000 after buying an additional 51,339 shares during the last quarter. GAMMA Investing LLC raised its stake in Coca-Cola by 25.7% during the 3rd quarter. GAMMA Investing LLC now owns 72,924 shares of the company’s stock valued at $5,240,000 after buying an additional 14,907 shares during the last quarter. Diversified Trust Co raised its stake in Coca-Cola by 0.6% during the 3rd quarter. Diversified Trust Co now owns 553,864 shares of the company’s stock valued at $39,801,000 after buying an additional 3,550 shares during the last quarter. Finally, Consilio Wealth Advisors LLC raised its stake in Coca-Cola by 14.4% during the 3rd quarter. Consilio Wealth Advisors LLC now owns 4,088 shares of the company’s stock valued at $294,000 after buying an additional 516 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.9 %

KO opened at $63.46 on Monday. The firm has a 50-day simple moving average of $62.65 and a two-hundred day simple moving average of $66.38. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a market capitalization of $273.38 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the 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 completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several analyst reports. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. UBS Group reduced their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Piper Sandler reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.13.

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.