Parsons Capital Management Inc. RI Buys 94,060 Shares of The Coca-Cola Company (NYSE:KO)

Parsons Capital Management Inc. RI grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 390.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 118,162 shares of the company’s stock after buying an additional 94,060 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Coca-Cola were worth $7,357,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KO. Heartland Bank & Trust Co grew its position in Coca-Cola by 15.1% during the 4th quarter. Heartland Bank & Trust Co now owns 9,411 shares of the company’s stock worth $586,000 after acquiring an additional 1,236 shares during the last quarter. James Hambro & Partners LLP boosted its stake in shares of Coca-Cola by 2.7% during the fourth quarter. James Hambro & Partners LLP now owns 1,311,170 shares of the company’s stock valued at $81,666,000 after purchasing an additional 34,917 shares in the last quarter. Mount Yale Investment Advisors LLC grew its holdings in shares of Coca-Cola by 44.8% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 14,656 shares of the company’s stock worth $912,000 after purchasing an additional 4,535 shares during the last quarter. Ridgecrest Wealth Partners LLC increased its stake in shares of Coca-Cola by 0.6% in the fourth quarter. Ridgecrest Wealth Partners LLC now owns 29,758 shares of the company’s stock valued at $1,853,000 after buying an additional 177 shares during the period. Finally, McLean Asset Management Corp raised its holdings in Coca-Cola by 28.6% in the 4th quarter. McLean Asset Management Corp now owns 4,585 shares of the company’s stock valued at $285,000 after buying an additional 1,020 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays decreased their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, UBS Group reduced their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Two investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.07.

Coca-Cola Price Performance

KO stock opened at $61.98 on Monday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The stock has a market capitalization of $267.01 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The company’s 50-day moving average is $62.62 and its 200-day moving average is $66.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.

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.