Pacer Advisors Inc. Cuts Stake in The Coca-Cola Company (NYSE:KO)

Pacer Advisors Inc. lowered its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,245 shares of the company's stock after selling 17,412 shares during the period. Pacer Advisors Inc.'s holdings in Coca-Cola were worth $21,993,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Coca-Cola during the 3rd quarter valued at $269,382,000. Geode Capital Management LLC raised its position in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC lifted its stake in Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company's stock worth $178,104,000 after purchasing an additional 2,443,612 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 2.4 %

Coca-Cola stock traded down $1.53 on Tuesday, hitting $62.34. 14,935,967 shares of the stock traded hands, compared to its average volume of 16,871,191. The business's fifty day simple moving average is $62.66 and its 200 day simple moving average is $66.42. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm has a market cap of $268.55 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on KO shares. Piper Sandler decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, UBS Group decreased 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 report on Thursday, January 16th. Two 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. According to data from MarketBeat.com, Coca-Cola has a consensus rating of "Moderate Buy" and an average price target of $71.93.

Insider Activity

In other 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 value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, 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 through this link. Corporate insiders own 0.97% of the company's stock.

Coca-Cola 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.