The Coca-Cola Company (NYSE:KO) Stake Increased by Curbstone Financial Management Corp

Curbstone Financial Management Corp raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.1% during the fourth quarter, HoldingsChannel reports. The fund owned 26,496 shares of the company’s stock after acquiring an additional 792 shares during the quarter. Curbstone Financial Management Corp’s holdings in Coca-Cola were worth $1,650,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group lowered 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 note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays decreased their target price on 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 dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.07.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the firm’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 completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $63.84 on Tuesday. The stock has a market cap of $275.03 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 3.38 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock’s 50 day moving average price is $62.62 and its 200 day moving average price is $66.41.

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.