Parsons Capital Management Inc. RI Has $7.36 Million Holdings in The Coca-Cola Company (NYSE:KO)

Parsons Capital Management Inc. RI grew its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 390.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,162 shares of the company's stock after acquiring an additional 94,060 shares during the period. Parsons Capital Management Inc. RI's holdings in Coca-Cola were worth $7,357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC raised its stake in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company's stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Wellington Management Group LLP increased its holdings in shares of Coca-Cola by 14.5% in the third 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 during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Coca-Cola in the third quarter valued at about $269,382,000. Geode Capital Management LLC lifted its stake in shares of Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after buying an additional 2,966,964 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its holdings in shares of Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company's stock worth $178,104,000 after buying an additional 2,443,612 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on KO. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Piper Sandler lowered their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their price target 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. 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. Finally, Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.07.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction on 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 sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

NYSE:KO traded up $1.92 during mid-day trading on Monday, reaching $63.84. The stock had a trading volume of 20,730,706 shares, compared to its average volume of 16,991,236. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock has a market capitalization of $275.03 billion, a PE ratio of 26.38, a P/E/G ratio of 3.38 and a beta of 0.61. 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 stock has a 50-day simple moving average of $62.62 and a two-hundred day simple moving average of $66.41.

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.