The Coca-Cola Company (NYSE:KO) Shares Purchased by PFG Investments LLC

PFG Investments LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,673 shares of the company's stock after buying an additional 8,687 shares during the quarter. PFG Investments LLC's holdings in Coca-Cola were worth $4,898,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KO. FMR LLC grew its holdings 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 buying an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC increased its position in Coca-Cola by 3.3% during the third 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 last quarter. Wellington Management Group LLP increased its position in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. raised its stake in Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares during the period. Finally, Truist Financial Corp boosted its holdings in Coca-Cola by 1.1% in the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company's stock valued at $1,041,479,000 after purchasing an additional 177,241 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. 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 report on Thursday, January 16th. Morgan Stanley decreased their price objective 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 dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a report on Thursday. Barclays decreased their price target on Coca-Cola from $73.00 to $66.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of "Moderate Buy" and a consensus target price of $72.07.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business'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 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.97% of the company's stock.

Coca-Cola Stock Performance

Coca-Cola stock traded up $1.92 during trading hours on Monday, reaching $63.84. 20,730,706 shares of the stock were exchanged, compared to its average volume of 16,991,236. The stock has a market cap of $275.03 billion, a P/E ratio of 26.38, a P/E/G ratio of 3.38 and a beta of 0.61. The firm's 50 day moving average is $62.62 and its 200 day moving average is $66.41. 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 Coca-Cola Company has a 52-week low of $57.93 and a 52-week 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.