Stonegate Investment Group LLC Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Stonegate Investment Group LLC lifted its position in The Coca-Cola Company (NYSE:KO - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,433 shares of the company's stock after acquiring an additional 4,965 shares during the period. Stonegate Investment Group LLC's holdings in Coca-Cola were worth $14,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Magnolia Capital Advisors LLC purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at $1,837,000. William B. Walkup & Associates Inc. purchased a new stake in Coca-Cola in the second quarter valued at $968,000. Wallace Advisory Group LLC grew its position in Coca-Cola by 4.4% during the 2nd quarter. Wallace Advisory Group LLC now owns 7,446 shares of the company's stock worth $474,000 after purchasing an additional 315 shares during the period. Second Line Capital LLC raised its stake in shares of Coca-Cola by 18.5% during the 2nd quarter. Second Line Capital LLC now owns 7,810 shares of the company's stock valued at $501,000 after buying an additional 1,221 shares during the last quarter. Finally, Invst LLC lifted its holdings in shares of Coca-Cola by 5.2% in the 2nd quarter. Invst LLC now owns 33,324 shares of the company's stock valued at $2,109,000 after buying an additional 1,645 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Price Performance

KO stock traded down $1.53 during midday trading on Tuesday, reaching $62.34. The stock had a trading volume of 14,935,967 shares, compared to its average volume of 16,871,191. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a market cap of $268.55 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The company's fifty day simple moving average is $62.66 and its 200 day simple moving average is $66.42. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company's 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 directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on KO shares. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and boosted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. 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 cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company lowered their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, UBS Group cut their price target on Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Two research 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $71.93.

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.