Synergy Asset Management LLC Buys 505,540 Shares of The Coca-Cola Company (NYSE:KO)

Synergy Asset Management LLC boosted its stake in The Coca-Cola Company (NYSE:KO) by 9,502.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 510,860 shares of the company’s stock after acquiring an additional 505,540 shares during the period. Coca-Cola accounts for about 2.4% of Synergy Asset Management LLC’s holdings, making the stock its 10th biggest position. Synergy Asset Management LLC’s holdings in Coca-Cola were worth $31,592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of 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 period. Geode Capital Management LLC increased 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 purchasing an additional 2,966,964 shares during the period. Wellington Management Group LLP raised its stake in shares of 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 in the last quarter. Franklin Resources Inc. lifted its holdings 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 valued at $1,990,407,000 after buying an additional 1,609,565 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Coca-Cola by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock valued at $847,468,000 after buying an additional 222,028 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE KO opened at $62.86 on Thursday. The business’s 50-day moving average price is $62.65 and its 200 day moving average price is $66.41. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a market capitalization of $270.77 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s 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 approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KO. Wells Fargo & Company reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday. Barclays lowered their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.13.

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.