Cullinan Associates Inc. Increases Stake in The Coca-Cola Company (NYSE:KO)

Cullinan Associates Inc. raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,371,065 shares of the company’s stock after purchasing an additional 78,048 shares during the quarter. Coca-Cola accounts for about 5.5% of Cullinan Associates Inc.’s portfolio, making the stock its 2nd largest position. Cullinan Associates Inc.’s holdings in Coca-Cola were worth $85,363,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Tempus Wealth Planning LLC raised its stake in shares of Coca-Cola by 25.1% during the fourth quarter. Tempus Wealth Planning LLC now owns 4,768 shares of the company’s stock valued at $297,000 after acquiring an additional 958 shares in the last quarter. Calamos Wealth Management LLC grew its holdings in Coca-Cola by 1.4% during the 4th quarter. Calamos Wealth Management LLC now owns 15,766 shares of the company’s stock worth $982,000 after acquiring an additional 211 shares in the last quarter. Dupree Financial Group LLC boosted its stake in shares of Coca-Cola by 5.8% during the fourth quarter. Dupree Financial Group LLC now owns 3,376 shares of the company’s stock valued at $210,000 after purchasing an additional 186 shares in the last quarter. abrdn plc lifted its holdings in Coca-Cola by 0.3% during the fourth quarter. abrdn plc now owns 7,238,640 shares of the company’s stock worth $447,963,000 after buying an additional 22,904 shares during the period. Finally, Trust Point Inc. lifted its stake in shares of Coca-Cola by 4.6% during the 4th quarter. Trust Point Inc. now owns 22,868 shares of the company’s stock worth $1,424,000 after purchasing an additional 1,006 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Down 0.2 %

KO opened at $63.36 on Tuesday. The business’s 50 day moving average price is $62.65 and its 200 day moving average price is $66.39. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a market capitalization of $272.95 billion, a PE ratio of 26.18, a P/E/G ratio of 3.56 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the 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 represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on KO shares. TD Cowen upgraded 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 note on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. decreased 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, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Two research 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 stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $72.13.

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.