Hanson & Doremus Investment Management Purchases 4,484 Shares of The Coca-Cola Company (NYSE:KO)

Hanson & Doremus Investment Management increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,514 shares of the company’s stock after acquiring an additional 4,484 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Coca-Cola were worth $2,709,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in KO. Quarry LP bought a new stake in shares of Coca-Cola during the 2nd quarter worth $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the 3rd quarter worth $36,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola in the third quarter valued at about $43,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth about $37,000. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research reports. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group reduced their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company lowered their target price 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, Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.93.

Coca-Cola Stock Performance

Shares of KO stock opened at $62.86 on Thursday. The firm has a 50 day moving average of $62.65 and a 200-day moving average of $66.41. The company has a market cap of $270.77 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is owned by 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.