R Squared Ltd Makes New Investment in The Coca-Cola Company (NYSE:KO)

R Squared Ltd acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,310 shares of the company’s stock, valued at approximately $144,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in KO. Quarry LP acquired a new position in Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola during the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the third quarter valued at $36,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola in the 3rd quarter worth about $43,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter worth about $37,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

NYSE KO opened at $62.86 on Thursday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a fifty day simple moving average of $62.65 and a 200 day simple moving average of $66.41. 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 company has a market cap of $270.77 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.38 and a beta of 0.61.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. UBS Group cut 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 decreased 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. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Piper Sandler reduced 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, January 23rd. 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 company. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $71.93.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred 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 directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.