The Coca-Cola Company (NYSE:KO) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC lowered its stake in The Coca-Cola Company (NYSE:KO) by 44.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,932 shares of the company’s stock after selling 67,680 shares during the quarter. SteelPeak Wealth LLC’s holdings in Coca-Cola were worth $5,288,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC bought a new position in Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the 3rd quarter valued at $36,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter worth $43,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $37,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other 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 completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday. Piper Sandler cut their target price on shares of 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 lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group decreased their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.93.

Coca-Cola Stock Performance

KO stock opened at $62.34 on Wednesday. The stock has a market cap of $268.55 billion, a P/E ratio of 25.76, a P/E/G 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 firm has a 50 day simple moving average of $62.66 and a 200 day simple moving average of $66.42. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

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.