Corundum Group Inc. Buys 7,623 Shares of The Coca-Cola Company (NYSE:KO)

Corundum Group Inc. grew its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 72.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,098 shares of the company's stock after buying an additional 7,623 shares during the quarter. Corundum Group Inc.'s holdings in Coca-Cola were worth $1,127,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Apella Capital LLC raised its holdings in Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company's stock valued at $748,000 after buying an additional 146 shares during the last quarter. Investment Advisory Group LLC increased its stake in shares of Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company's stock valued at $243,000 after buying an additional 146 shares during the period. CCG Wealth Management LLC lifted its stake in shares of Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company's stock worth $260,000 after acquiring an additional 149 shares during the period. Investment Partners Asset Management Inc. boosted its holdings in Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company's stock valued at $500,000 after acquiring an additional 150 shares during the last quarter. Finally, Chapin Davis Inc. raised its holdings in Coca-Cola by 1.0% during the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company's stock worth $1,100,000 after purchasing an additional 153 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KO has been the subject of a number of analyst reports. Wells Fargo & Company lowered 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 note on Tuesday, January 7th. Barclays cut their target price on Coca-Cola from $73.00 to $66.00 and set an "overweight" rating on the stock in a research report on Friday. TD Cowen upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. UBS Group reduced their price target on shares of Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a report on Thursday. Finally, Piper Sandler assumed coverage on Coca-Cola in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $74.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $72.13.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Stock Up 0.8 %

KO opened at $62.76 on Monday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company's 50-day moving average is $62.69 and its 200 day moving average is $66.43. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market capitalization of $270.34 billion, a P/E ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola's quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Company 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.

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