Beacon Financial Advisory LLC Has $1.65 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Beacon Financial Advisory LLC increased its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 78.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,510 shares of the company's stock after purchasing an additional 11,656 shares during the quarter. Beacon Financial Advisory LLC's holdings in Coca-Cola were worth $1,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hara Capital LLC purchased a new position in shares of Coca-Cola in the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $37,000. MilWealth Group LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the third quarter worth $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

KO stock traded up $0.25 during trading on Thursday, reaching $63.37. 13,410,332 shares of the stock were exchanged, compared to its average volume of 15,637,591. 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. The company has a market capitalization of $272.96 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The stock has a 50 day simple moving average of $62.56 and a 200-day simple moving average of $66.34.

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 shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company's stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KO. TD Cowen upgraded 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. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. UBS Group decreased their price target on Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Barclays cut their price objective on 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, Piper Sandler decreased their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Two equities research 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. According to MarketBeat, Coca-Cola presently has an average rating of "Moderate Buy" and a consensus price target of $72.19.

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.