Empowered Funds LLC Buys 25,176 Shares of The Coca-Cola Company (NYSE:KO)

Empowered Funds LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,142 shares of the company’s stock after acquiring an additional 25,176 shares during the period. Empowered Funds LLC’s holdings in Coca-Cola were worth $14,640,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. FMR LLC lifted its stake in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP grew its holdings in Coca-Cola by 14.5% during 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 purchasing an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Coca-Cola during the third quarter valued at $269,382,000. Geode Capital Management LLC grew its holdings 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 valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC grew its holdings in Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.8 %

Shares of KO stock opened at $63.84 on Friday. 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 Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a market capitalization of $275.03 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The business’s fifty day moving average is $62.53 and its 200 day moving average is $66.31.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company reduced their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two investment 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.19.

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.