Level Wealth Management LLC Acquires New Position in The Coca-Cola Company (NYSE:KO)

Level Wealth Management LLC purchased a new stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,876 shares of the company's stock, valued at approximately $490,000. Coca-Cola accounts for 0.3% of Level Wealth Management LLC's portfolio, making the stock its 27th biggest holding.

Several other hedge funds have also made changes to their positions in the company. Quarry LP bought a new position in Coca-Cola during the second quarter valued at about $27,000. Czech National Bank increased its holdings in shares of Coca-Cola by 6.9% during the third quarter. Czech National Bank now owns 790,169 shares of the company's stock worth $56,782,000 after buying an additional 51,339 shares in the last quarter. Apella Capital LLC grew its holdings in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company's stock worth $748,000 after purchasing an additional 146 shares during the last quarter. HBW Advisory Services LLC increased its stake in shares of Coca-Cola by 202.5% in the third quarter. HBW Advisory Services LLC now owns 11,844 shares of the company's stock valued at $851,000 after buying an additional 7,928 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC acquired a new position in Coca-Cola during the 3rd quarter worth about $225,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Transactions at Coca-Cola

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. UBS Group reduced their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Piper Sandler cut their price target on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $72.13.

Coca-Cola Trading Down 1.2 %

KO traded down $0.79 during trading on Tuesday, hitting $62.56. 3,997,285 shares of the stock traded hands, compared to its average volume of 15,379,812. The firm has a market capitalization of $269.50 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The firm has a 50-day moving average of $62.65 and a 200 day moving average of $66.39. 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 Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

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.