Mutual of America Capital Management LLC Buys 6,947 Shares of The Coca-Cola Company (NYSE:KO)

Posted by Casey Walker on Feb 1st, 2023

Mutual of America Capital Management LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 1.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 539,237 shares of the company’s stock after acquiring an additional 6,947 shares during the period. Coca-Cola comprises approximately 0.4% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Mutual of America Capital Management LLC’s holdings in Coca-Cola were worth $30,208,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Paragon Wealth Strategies LLC acquired a new position in Coca-Cola during the third quarter worth approximately $25,000. LFA Lugano Financial Advisors SA bought a new stake in Coca-Cola during the second quarter worth $34,000. Horizons Wealth Management bought a new stake in Coca-Cola during the second quarter worth $34,000. MBM Wealth Consultants LLC lifted its stake in Coca-Cola by 298.9% during the third quarter. MBM Wealth Consultants LLC now owns 730 shares of the company’s stock worth $41,000 after purchasing an additional 547 shares during the last quarter. Finally, Sycomore Asset Management bought a new position in shares of Coca-Cola in the 3rd quarter valued at $45,000. Institutional investors own 68.74% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brian John Smith sold 94,200 shares of the firm’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $63.02, for a total value of $5,936,484.00. Following the completion of the sale, the insider now directly owns 116,168 shares in the company, valued at approximately $7,320,907.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Nancy Quan sold 13,746 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $61.12, for a total value of $840,155.52. Following the completion of the sale, the senior vice president now directly owns 184,710 shares in the company, valued at approximately $11,289,475.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brian John Smith sold 94,200 shares of the firm’s stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $63.02, for a total value of $5,936,484.00. Following the completion of the sale, the insider now owns 116,168 shares of the company’s stock, valued at $7,320,907.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,986 shares of company stock worth $17,218,050. Company insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on KO. Wells Fargo & Company increased their price target on Coca-Cola from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, December 8th. UBS Group increased their price target on Coca-Cola from $63.00 to $68.00 in a research note on Wednesday, October 26th. StockNews.com upgraded Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, January 11th. Wolfe Research started coverage on Coca-Cola in a research note on Tuesday, October 11th. They issued an “outperform” rating and a $63.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola from $59.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, December 6th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $66.90.

Coca-Cola Trading Down 0.5 %

Coca-Cola stock traded down $0.29 during trading hours on Wednesday, reaching $61.03. 2,880,815 shares of the company’s stock were exchanged, compared to its average volume of 12,553,172. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.45. The firm’s 50 day simple moving average is $62.56 and its 200 day simple moving average is $61.20. The Coca-Cola Company has a twelve month low of $54.01 and a twelve month high of $67.20. The firm has a market capitalization of $263.92 billion, a PE ratio of 26.78, a PEG ratio of 3.82 and a beta of 0.57.

Coca-Cola Company Profile

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The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.