Gries Financial LLC Sells 399 Shares of The Coca-Cola Company (NYSE:KO)

Gries Financial LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,923 shares of the company’s stock after selling 399 shares during the quarter. Gries Financial LLC’s holdings in Coca-Cola were worth $1,614,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hanson & Doremus Investment Management grew its position in 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 acquiring an additional 4,484 shares during the last quarter. Field & Main Bank raised its position in 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. Strategic Blueprint LLC lifted its holdings in Coca-Cola by 4.1% during the 4th quarter. Strategic Blueprint LLC now owns 23,884 shares of the company’s stock worth $1,487,000 after buying an additional 942 shares during the period. Foster Victor Wealth Advisors LLC grew its position in shares of Coca-Cola by 29.5% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 18,120 shares of the company’s stock valued at $1,136,000 after buying an additional 4,123 shares during the last quarter. Finally, BOCHK Asset Management Ltd acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $355,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KO. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $75.00 in a research report on Thursday. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Morgan Stanley cut 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. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Coca-Cola Stock Performance

NYSE:KO opened at $62.86 on Thursday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. 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 business has a fifty day simple moving average of $62.65 and a two-hundred day simple moving average of $66.41. The company has a market capitalization of $270.77 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.38 and a beta of 0.61.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is currently owned by company insiders.

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.