Mediolanum International Funds Ltd Buys 388,682 Shares of The Coca-Cola Company (NYSE:KO)

Mediolanum International Funds Ltd grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 123.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 702,584 shares of the company’s stock after acquiring an additional 388,682 shares during the period. Mediolanum International Funds Ltd’s holdings in Coca-Cola were worth $43,474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Apella Capital LLC grew its stake in shares of Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after buying an additional 146 shares during the period. Investment Advisory Group LLC lifted its holdings in Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after acquiring an additional 146 shares during the last quarter. CCG Wealth Management LLC increased its stake in Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. raised its position in Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the period. Finally, Chapin Davis Inc. lifted its stake in shares of Coca-Cola by 1.0% in the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KO. Piper Sandler reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Barclays cut their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, UBS Group decreased their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Price Performance

Shares of KO opened at $64.05 on Friday. The firm’s fifty day simple moving average is $62.65 and its 200-day simple moving average is $66.38. The firm has a market capitalization of $275.90 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 3.52 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. 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 Transactions 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 of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

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.