Spire Wealth Management Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Spire Wealth Management lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,053 shares of the company’s stock after selling 2,777 shares during the quarter. Spire Wealth Management’s holdings in Coca-Cola were worth $2,369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. SYM FINANCIAL Corp lifted its holdings in Coca-Cola by 19.7% during the 4th quarter. SYM FINANCIAL Corp now owns 9,403 shares of the company’s stock worth $585,000 after buying an additional 1,545 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Coca-Cola by 3.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 114,677 shares of the company’s stock valued at $7,140,000 after purchasing an additional 3,298 shares during the period. Independence Bank of Kentucky grew its stake in Coca-Cola by 4.4% during the 4th quarter. Independence Bank of Kentucky now owns 41,788 shares of the company’s stock worth $2,602,000 after purchasing an additional 1,766 shares in the last quarter. SeaBridge Investment Advisors LLC increased its holdings in Coca-Cola by 28.7% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 8,215 shares of the company’s stock worth $511,000 after purchasing an additional 1,833 shares during the period. Finally, Blossom Wealth Management raised its position in Coca-Cola by 5.8% in the 4th quarter. Blossom Wealth Management now owns 5,175 shares of the company’s stock valued at $322,000 after purchasing an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.9 %

NYSE KO opened at $63.46 on Monday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The firm has a 50-day moving average price of $62.65 and a 200 day moving average price of $66.38. The stock has a market capitalization of $273.38 billion, a P/E ratio of 26.22, a P/E/G ratio of 3.52 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Insider Transactions at Coca-Cola

In other 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 transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on KO. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Piper Sandler lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. TD Cowen raised 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, Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Two 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Coca-Cola 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.