Concord Wealth Partners Has $4.73 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Concord Wealth Partners raised its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,961 shares of the company's stock after buying an additional 8,774 shares during the quarter. Coca-Cola makes up approximately 0.8% of Concord Wealth Partners' investment portfolio, making the stock its 29th largest position. Concord Wealth Partners' holdings in Coca-Cola were worth $4,729,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the 3rd quarter valued at about $36,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the fourth quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KO. UBS Group reduced their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. TD Cowen raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Barclays reduced 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 note on Friday, January 17th. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and boosted their price target for the stock from $69.00 to $75.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of "Moderate Buy" and a consensus target price of $72.13.

Coca-Cola Trading Down 0.2 %

Shares of KO traded down $0.12 during trading hours on Monday, reaching $63.36. The stock had a trading volume of 12,062,439 shares, compared to its average volume of 15,977,205. The company has a market cap of $272.95 billion, a P/E ratio of 26.18, a P/E/G ratio of 3.56 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The firm has a 50-day moving average of $62.65 and a 200 day moving average of $66.39.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.97% of the company's stock.

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.