Beacon Financial Advisory LLC Has $1.65 Million Position in The Coca-Cola Company (NYSE:KO)

Beacon Financial Advisory LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 78.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,510 shares of the company’s stock after acquiring an additional 11,656 shares during the period. Beacon Financial Advisory LLC’s holdings in Coca-Cola were worth $1,651,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC boosted its position in Coca-Cola by 3.3% in 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 buying an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP grew its stake 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 worth $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Coca-Cola by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock valued at $847,468,000 after buying an additional 222,028 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Up 0.7 %

Shares of NYSE:KO opened at $63.13 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company’s 50-day moving average price is $62.59 and its two-hundred day moving average price is $66.36. The stock has a market capitalization of $271.94 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on KO. Barclays reduced their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Piper Sandler reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.