Lockheed Martin Investment Management Co. Grows Stake in The Coca-Cola Company (NYSE:KO)

Lockheed Martin Investment Management Co. lifted its position in The Coca-Cola Company (NYSE:KO - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 218,985 shares of the company's stock after purchasing an additional 30,650 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Coca-Cola were worth $13,634,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter worth about $27,000. Hara Capital LLC bought a new stake in Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the third quarter valued at approximately $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the fourth quarter worth approximately $37,000. Finally, MilWealth Group LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $40,000. Institutional investors own 70.26% of the company's stock.

Wall Street Analyst Weigh In

KO has been the subject of several recent research reports. Morgan Stanley lowered 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. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and lifted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.13.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on 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 completion of the sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $62.68 on Wednesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market capitalization of $270.00 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company's 50-day moving average is $62.62 and its 200 day moving average is $66.38.

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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