Cibc World Market Inc. boosted its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,164,106 shares of the company's stock after purchasing an additional 364,362 shares during the period. Cibc World Market Inc. owned 0.05% of Coca-Cola worth $134,737,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC increased its stake in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company's stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Wellington Management Group LLP increased its stake in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Coca-Cola during the third quarter valued at about $269,382,000. Geode Capital Management LLC increased its stake in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock valued at $6,664,005,000 after acquiring an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC grew its stake in shares of Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company's stock valued at $178,104,000 after purchasing an additional 2,443,612 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.
Coca-Cola Price Performance
KO stock opened at $64.05 on Friday. The stock has a 50-day moving average price of $62.65 and a two-hundred day moving average price of $66.38. The stock has a market cap of $275.90 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 3.52 and a beta of 0.61. 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 Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on KO shares. Wells Fargo & Company lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded 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 research note on Thursday, December 12th. Morgan Stanley reduced their target price on 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 reduced their target price on Coca-Cola from $82.00 to $72.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their target price on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday. 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 company's stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of "Moderate Buy" and an average price target of $72.13.
Check Out Our Latest Analysis on Coca-Cola
Insiders Place Their Bets
In related 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 value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.97% of the company's stock.
About Coca-Cola
(
Free Report)
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.
Further Reading
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