United Asset Strategies Inc. Increases Stake in The Coca-Cola Company (NYSE:KO)

United Asset Strategies Inc. boosted its stake in The Coca-Cola Company (NYSE:KO) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,866 shares of the company’s stock after purchasing an additional 2,863 shares during the quarter. United Asset Strategies Inc.’s holdings in Coca-Cola were worth $2,544,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harvest Portfolios Group Inc. purchased a new position in Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC increased its holdings in Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after purchasing an additional 59,503 shares during the period. Fiduciary Alliance LLC lifted its stake in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after buying an additional 46,541 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of analyst reports. UBS Group dropped their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Truist Financial lifted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Piper Sandler cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.07.

Coca-Cola Stock Up 0.7 %

KO stock opened at $61.98 on Monday. 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 firm has a market cap of $267.01 billion, a PE ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The firm has a 50 day simple moving average of $62.62 and a 200 day simple moving average of $66.41.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

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.