Commonwealth Financial Services LLC Grows Position in The Coca-Cola Company (NYSE:KO)

Commonwealth Financial Services LLC raised its position in shares of The Coca-Cola Company (NYSE:KO) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,141 shares of the company’s stock after purchasing an additional 254 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Coca-Cola were worth $694,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cullinan Associates Inc. boosted its holdings in shares of Coca-Cola by 6.0% in the 4th quarter. Cullinan Associates Inc. now owns 1,371,065 shares of the company’s stock worth $85,363,000 after purchasing an additional 78,048 shares during the period. Tempus Wealth Planning LLC boosted its holdings in shares of Coca-Cola by 25.1% in the 4th quarter. Tempus Wealth Planning LLC now owns 4,768 shares of the company’s stock worth $297,000 after purchasing an additional 958 shares during the period. Calamos Wealth Management LLC boosted its holdings in shares of Coca-Cola by 1.4% in the 4th quarter. Calamos Wealth Management LLC now owns 15,766 shares of the company’s stock worth $982,000 after purchasing an additional 211 shares during the period. Dupree Financial Group LLC boosted its holdings in shares of Coca-Cola by 5.8% in the 4th quarter. Dupree Financial Group LLC now owns 3,376 shares of the company’s stock worth $210,000 after purchasing an additional 186 shares during the period. Finally, abrdn plc boosted its holdings in shares of Coca-Cola by 0.3% in the 4th quarter. abrdn plc now owns 7,238,640 shares of the company’s stock worth $447,963,000 after purchasing an additional 22,904 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays decreased their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Coca-Cola Trading Down 0.2 %

Shares of NYSE KO opened at $63.36 on Tuesday. 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 business has a fifty day simple moving average of $62.65 and a two-hundred day simple moving average of $66.39. The firm has a market cap of $272.95 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was 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 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 is accessible through this link. 0.97% of the stock is currently owned by corporate insiders.

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.