The Coca-Cola Company (NYSE:KO) Sees Large Decrease in Short Interest

The Coca-Cola Company (NYSE:KO - Get Free Report) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 32,920,000 shares, a decrease of 5.3% from the December 31st total of 34,770,000 shares. Currently, 0.8% of the company's shares are sold short. Based on an average trading volume of 16,210,000 shares, the short-interest ratio is currently 2.0 days.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was 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 directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is currently owned by company insiders.

Institutional Trading of Coca-Cola

Several hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Coca-Cola in the second quarter worth $27,000. Czech National Bank grew its holdings in Coca-Cola by 6.9% during the 3rd quarter. Czech National Bank now owns 790,169 shares of the company's stock valued at $56,782,000 after buying an additional 51,339 shares in the last quarter. Apella Capital LLC increased its position in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company's stock valued at $748,000 after buying an additional 146 shares during the period. HBW Advisory Services LLC lifted its holdings in shares of Coca-Cola by 202.5% in the third quarter. HBW Advisory Services LLC now owns 11,844 shares of the company's stock worth $851,000 after buying an additional 7,928 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC bought a new position in shares of Coca-Cola in the third quarter valued at approximately $225,000. Institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. UBS Group cut their price target on Coca-Cola from $82.00 to $72.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of "Moderate Buy" and an average price target of $72.13.

Coca-Cola Stock Performance

KO stock traded down $0.12 during midday trading on Monday, hitting $63.36. The company's stock had a trading volume of 12,062,439 shares, compared to its average volume of 15,977,205. Coca-Cola has a 1 year low of $57.93 and a 1 year high of $73.53. The stock has a market cap of $272.95 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 3.56 and a beta of 0.61. The stock's 50-day moving average price is $62.65 and its 200 day moving average price is $66.39. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

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.