Inman Jager Wealth Management LLC Purchases New Stake in The Coca-Cola Company (NYSE:KO)

Inman Jager Wealth Management LLC purchased a new position in shares of The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,738 shares of the company’s stock, valued at approximately $1,540,000. Coca-Cola makes up approximately 1.2% of Inman Jager Wealth Management LLC’s portfolio, making the stock its 23rd biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Hara Capital LLC bought a new position in shares of Coca-Cola in the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the third quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $37,000. MilWealth Group LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $40,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the third quarter worth $43,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KO. Truist Financial increased their price objective 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 cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Trading Up 0.7 %

NYSE:KO opened at $63.13 on Thursday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. 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 firm has a market cap of $271.94 billion, a P/E ratio of 26.09, a P/E/G ratio of 3.56 and a beta of 0.61. The firm has a 50-day simple moving average of $62.59 and a 200-day simple moving average of $66.36.

About Coca-Cola

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.