Verity Asset Management Inc. Sells 10,649 Shares of The Coca-Cola Company (NYSE:KO)

Verity Asset Management Inc. reduced its position in The Coca-Cola Company (NYSE:KO) by 55.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,609 shares of the company’s stock after selling 10,649 shares during the period. Verity Asset Management Inc.’s holdings in Coca-Cola were worth $536,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter worth $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the 3rd quarter valued at about $36,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the fourth quarter valued at about $37,000. Finally, MilWealth Group LLC acquired a new stake in Coca-Cola in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s 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 sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was 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 available at this link. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $63.36 on Tuesday. The firm has a market cap of $272.95 billion, a PE ratio of 26.18, a P/E/G ratio of 3.56 and a beta of 0.61. The business has a 50-day moving average price of $62.65 and a 200 day moving average price of $66.39. 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 Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Wall Street Analyst Weigh In

KO has been the subject of several research analyst reports. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. 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 note on Wednesday, January 8th. Finally, UBS Group decreased their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

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.