The Coca-Cola Company (NYSE:KO) Shares Sold by KBC Group NV

KBC Group NV decreased its stake in The Coca-Cola Company (NYSE:KO) by 2.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,031,734 shares of the company’s stock after selling 26,990 shares during the quarter. KBC Group NV’s holdings in Coca-Cola were worth $64,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Coca-Cola during the second quarter valued at about $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter valued at approximately $36,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola during the 4th quarter worth approximately $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola in the 3rd quarter valued at approximately $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

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 stock was 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. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of KO opened at $61.98 on Monday. The firm has a fifty day moving average of $62.62 and a 200-day moving average of $66.39. The company has a market cap of $267.01 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. 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 1 year low of $57.93 and a 1 year high of $73.53.

Wall Street Analyst Weigh In

KO has been the subject of a number of recent analyst reports. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. UBS Group dropped their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Barclays cut their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two equities 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.07.

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.