Lockheed Martin Investment Management Co. Boosts Stake in The Coca-Cola Company (NYSE:KO)

Lockheed Martin Investment Management Co. increased its stake in The Coca-Cola Company (NYSE:KO) by 16.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 218,985 shares of the company’s stock after purchasing an additional 30,650 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Coca-Cola were worth $13,634,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Quarry LP purchased a new position in shares of Coca-Cola during the 2nd quarter valued at $27,000. Czech National Bank raised its holdings in Coca-Cola by 6.9% during the third quarter. Czech National Bank now owns 790,169 shares of the company’s stock valued at $56,782,000 after acquiring an additional 51,339 shares during the period. Miracle Mile Advisors LLC lifted its position in shares of Coca-Cola by 11.2% in the third quarter. Miracle Mile Advisors LLC now owns 9,643 shares of the company’s stock valued at $693,000 after acquiring an additional 972 shares in the last quarter. Greenfield Savings Bank grew its position in shares of Coca-Cola by 15.2% during the third quarter. Greenfield Savings Bank now owns 18,517 shares of the company’s stock worth $1,331,000 after purchasing an additional 2,443 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Coca-Cola by 61.9% during the 3rd quarter. Versant Capital Management Inc now owns 6,804 shares of the company’s stock valued at $489,000 after purchasing an additional 2,601 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of a number of research analyst reports. Piper Sandler cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective 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 28th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. 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 stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Price Performance

KO stock opened at $62.68 on Wednesday. The stock has a market cap of $270.00 billion, a PE ratio of 25.90, a P/E/G ratio of 3.56 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a 50-day moving average price of $62.62 and a 200 day moving average price of $66.38. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.97% of the company’s stock.

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.