Blue Trust Inc. Acquires 558,505 Shares of The Coca-Cola Company (NYSE:KO)

Blue Trust Inc. lifted its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 185.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 859,574 shares of the company's stock after acquiring an additional 558,505 shares during the period. Coca-Cola accounts for about 0.6% of Blue Trust Inc.'s investment portfolio, making the stock its 27th largest position. Blue Trust Inc.'s holdings in Coca-Cola were worth $53,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. FMR LLC lifted its holdings in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC grew its stake 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 valued at $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP increased its holdings in 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 purchasing an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. raised its position 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 purchasing an additional 1,609,565 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Coca-Cola by 1.1% during the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company's stock worth $1,041,479,000 after buying an additional 177,241 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KO has been the subject of several analyst reports. 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 report on Thursday, October 24th. Barclays decreased their target price on shares of Coca-Cola from $73.00 to $66.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. UBS Group cut their price target on Coca-Cola from $82.00 to $72.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, Piper Sandler decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $72.07.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $21,933,220.38. This trade 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 the SEC website. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock traded up $1.92 during midday trading on Monday, hitting $63.84. The company had a trading volume of 20,730,706 shares, compared to its average volume of 16,991,236. The stock has a market cap of $275.03 billion, a PE ratio of 26.38, a P/E/G ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The business's 50 day simple moving average is $62.62 and its two-hundred day simple moving average is $66.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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.