The Coca-Cola Company (NYSE:KO) Shares Purchased by Highland Capital Management LLC

Highland Capital Management LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 56.7% in the fourth quarter, Holdings Channel reports. The firm owned 81,995 shares of the company’s stock after acquiring an additional 29,675 shares during the period. Highland Capital Management LLC’s holdings in Coca-Cola were worth $5,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Harvest Portfolios Group Inc. purchased a new stake in Coca-Cola during the 3rd quarter valued at approximately $18,383,000. Balentine LLC raised its stake in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares in the last quarter. Fiduciary Alliance LLC raised its stake in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after buying an additional 8,499 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after buying an additional 46,541 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KO has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays dropped their price objective 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. Finally, JPMorgan Chase & Co. lowered 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. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.13.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value 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 approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.8 %

Shares of 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 firm has a market cap of $270.77 billion, a price-to-earnings ratio of 25.97, a PEG 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 stock’s 50-day simple moving average is $62.65 and its 200-day simple moving average 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.