Mirae Asset Global Investments Co. Ltd. Acquires 486,231 Shares of The Coca-Cola Company (NYSE:KO)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 37.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,789,972 shares of the company's stock after buying an additional 486,231 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Coca-Cola were worth $110,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of KO. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC bought a new stake in Coca-Cola in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the third quarter valued at $36,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the fourth quarter valued at $37,000. Finally, MilWealth Group LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KO. JPMorgan Chase & Co. lowered their price target on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company lowered 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. Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. 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 company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $72.13.

Coca-Cola Trading Down 1.1 %

KO opened at $62.68 on Wednesday. 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 stock's fifty day moving average is $62.62 and its two-hundred day moving average is $66.38. The company has a market capitalization of $270.00 billion, a P/E ratio of 25.90, a PEG ratio of 3.56 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

Insider Activity

In other Coca-Cola 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 transaction of $6,403,000.00. Following the transaction, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the SEC, which is available at 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.

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