The Coca-Cola Company (NYSE:KO) Shares Sold by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,621 shares of the company’s stock after selling 543 shares during the period. Journey Strategic Wealth LLC’s holdings in Coca-Cola were worth $661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC lifted its position in Coca-Cola by 3.3% during the third 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 period. Wellington Management Group LLP grew its holdings in Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Franklin Resources Inc. raised its position in shares of Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after buying an additional 1,609,565 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Coca-Cola by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock valued at $847,468,000 after purchasing an additional 222,028 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KO shares. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Piper Sandler lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $69.00 to $75.00 in a research note on Thursday. Finally, Barclays lowered their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Price Performance

Shares of KO stock opened at $63.46 on Monday. The firm has a market cap of $273.38 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 3.52 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. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock has a 50-day moving average price of $62.65 and a 200 day moving average price of $66.38.

Coca-Cola 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.