Trust Point Inc. Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Trust Point Inc. grew its stake in The Coca-Cola Company (NYSE:KO) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,868 shares of the company’s stock after purchasing an additional 1,006 shares during the period. Trust Point Inc.’s holdings in Coca-Cola were worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Fourpath Capital Management LLC lifted its stake in Coca-Cola by 3.4% during the fourth quarter. Fourpath Capital Management LLC now owns 53,402 shares of the company’s stock worth $3,325,000 after purchasing an additional 1,764 shares in the last quarter. Financial Life Planners acquired a new position in Coca-Cola during the fourth quarter worth $103,000. Rice Partnership LLC lifted its stake in Coca-Cola by 7.1% during the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares in the last quarter. S.A. Mason LLC lifted its stake in Coca-Cola by 4.0% during the fourth quarter. S.A. Mason LLC now owns 8,702 shares of the company’s stock worth $542,000 after purchasing an additional 334 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in Coca-Cola by 0.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 61,389 shares of the company’s stock worth $3,822,000 after purchasing an additional 314 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of KO stock opened at $63.36 on Tuesday. The stock’s 50-day moving average is $62.65 and its two-hundred day moving average is $66.39. The firm has a market cap of $272.95 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 3.56 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Analysts Set New Price Targets

KO has been the topic of a number of research reports. Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Truist Financial increased 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. Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Barclays dropped their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.97% of the company’s stock.

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.