NovaPoint Capital LLC Sells 374 Shares of The Coca-Cola Company (NYSE:KO)

NovaPoint Capital LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,136 shares of the company’s stock after selling 374 shares during the quarter. NovaPoint Capital LLC’s holdings in Coca-Cola were worth $507,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of KO. FMR LLC raised its position in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP raised its position in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Coca-Cola during the 3rd quarter worth approximately $269,382,000. Geode Capital Management LLC raised its position in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after buying an additional 2,966,964 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in shares of Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 0.7 %

Shares of NYSE:KO opened at $63.13 on Thursday. 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 firm has a market capitalization of $271.94 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The firm’s 50-day moving average is $62.59 and its two-hundred day moving average is $66.36. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year 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 that occurred on Friday, November 8th. The shares were 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 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 can be accessed through this link. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. UBS Group dropped their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Piper Sandler lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

About Coca-Cola

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.