Callahan Advisors LLC reduced its stake in shares of The Coca-Cola Co (NYSE:KO) by 0.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,293 shares of the company’s stock after selling 338 shares during the period. Callahan Advisors LLC’s holdings in The Coca-Cola were worth $2,097,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position in shares of The Coca-Cola by 0.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 560,169 shares of the company’s stock valued at $25,871,000 after buying an additional 4,973 shares in the last quarter. Moller Financial Services bought a new position in shares of The Coca-Cola in the fourth quarter worth approximately $292,000. CX Institutional purchased a new stake in shares of The Coca-Cola in the fourth quarter valued at $928,000. Ancora Advisors LLC grew its holdings in The Coca-Cola by 21.0% during the 3rd quarter. Ancora Advisors LLC now owns 51,438 shares of the company’s stock worth $2,377,000 after acquiring an additional 8,941 shares in the last quarter. Finally, Man Group plc boosted its holdings in shares of The Coca-Cola by 34.2% in the 3rd quarter. Man Group plc now owns 617,032 shares of the company’s stock valued at $28,501,000 after buying an additional 157,187 shares in the last quarter. Hedge funds and other institutional investors own 65.93% of the company’s stock.
In related news, insider Beatriz R. Perez sold 21,742 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $48.76, for a total value of $1,060,139.92. Following the sale, the insider now directly owns 92,645 shares in the company, valued at approximately $4,517,370.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Beatriz R. Perez sold 10,000 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $48.50, for a total value of $485,000.00. Following the sale, the senior vice president now directly owns 92,645 shares in the company, valued at approximately $4,493,282.50. The disclosure for this sale can be found here. Insiders have sold 46,842 shares of company stock worth $2,306,180 in the last three months. 1.48% of the stock is currently owned by insiders.
Several brokerages have recently weighed in on KO. Bank of America reissued a “buy” rating and set a $52.00 price target on shares of The Coca-Cola in a research report on Tuesday, October 30th. Macquarie set a $50.00 target price on The Coca-Cola and gave the stock a “neutral” rating in a research report on Thursday, November 8th. Royal Bank of Canada reissued a “buy” rating and issued a $56.00 price target on shares of The Coca-Cola in a research note on Wednesday, October 17th. Wells Fargo & Co restated a “buy” rating and issued a $52.00 target price on shares of The Coca-Cola in a report on Wednesday, October 17th. Finally, Morgan Stanley set a $50.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Monday, October 15th. Fourteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The Coca-Cola presently has an average rating of “Hold” and an average price target of $51.64.
Shares of NYSE:KO traded up $0.05 during trading on Monday, reaching $49.55. 2,303,119 shares of the stock were exchanged, compared to its average volume of 12,660,211. The Coca-Cola Co has a 12 month low of $41.45 and a 12 month high of $50.84. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 1.26. The stock has a market cap of $211.16 billion, a PE ratio of 25.94, a P/E/G ratio of 3.02 and a beta of 0.53.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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