China Universal Asset Management Co. Ltd. Grows Position in The Coca-Cola Company (NYSE:KO)

China Universal Asset Management Co. Ltd. lifted its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,734 shares of the company's stock after acquiring an additional 5,565 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Coca-Cola were worth $2,349,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter worth approximately $27,000. Czech National Bank raised its stake in Coca-Cola by 6.9% during the third quarter. Czech National Bank now owns 790,169 shares of the company's stock worth $56,782,000 after acquiring an additional 51,339 shares during the period. Canandaigua National Bank & Trust Co. boosted its stake in Coca-Cola by 0.8% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 86,762 shares of the company's stock valued at $6,235,000 after purchasing an additional 731 shares during the period. Apella Capital LLC raised its position in shares of Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company's stock worth $748,000 after buying an additional 146 shares in the last quarter. Finally, Duncan Williams Asset Management LLC bought a new stake in Coca-Cola during the third quarter worth approximately $340,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays cut their target price on shares of Coca-Cola from $73.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Piper Sandler decreased their price objective on 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 dropped their target price on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Morgan Stanley decreased 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. Finally, Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.13.

Coca-Cola Stock Down 0.2 %

NYSE:KO traded down $0.12 during trading hours on Monday, reaching $63.36. 12,062,439 shares of the company traded hands, compared to its average volume of 15,977,205. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The business's 50-day moving average price is $62.65 and its two-hundred day moving average price is $66.39. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $272.95 billion, a P/E ratio of 26.18, a P/E/G ratio of 3.56 and a beta of 0.61.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the company'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 completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is owned by insiders.

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.