The Coca-Cola Company (NYSE:KO) Stake Boosted by Strategic Blueprint LLC

Strategic Blueprint LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,884 shares of the company’s stock after buying an additional 942 shares during the quarter. Strategic Blueprint LLC’s holdings in Coca-Cola were worth $1,487,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC raised its stake in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after buying an additional 1,609,565 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Coca-Cola by 1.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock worth $847,468,000 after purchasing an additional 222,028 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.8 %

Shares of Coca-Cola stock opened at $62.86 on Thursday. 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 Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business has a 50-day moving average price of $62.65 and a 200-day moving average price of $66.41.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on KO. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. UBS Group cut their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Piper Sandler cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a 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 target on the stock in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.93.

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.