The Coca-Cola Company (NYSE:KO) Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky grew its stake in The Coca-Cola Company (NYSE:KO) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,788 shares of the company’s stock after purchasing an additional 1,766 shares during the period. Independence Bank of Kentucky’s holdings in Coca-Cola were worth $2,602,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KO. Quarry LP acquired a new stake in Coca-Cola in the second quarter valued at about $27,000. Czech National Bank raised its stake in shares of Coca-Cola by 6.9% during the 3rd quarter. Czech National Bank now owns 790,169 shares of the company’s stock worth $56,782,000 after buying an additional 51,339 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its holdings in shares of Coca-Cola by 0.8% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 86,762 shares of the company’s stock valued at $6,235,000 after buying an additional 731 shares during the period. Apella Capital LLC boosted its stake in shares of Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after buying an additional 146 shares in the last quarter. Finally, Duncan Williams Asset Management LLC acquired a new position in Coca-Cola during the third quarter worth $340,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on KO. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Wells Fargo & Company lowered their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. UBS Group lowered their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $69.00 to $75.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.9 %

KO stock opened at $63.46 on Friday. The company has a 50 day moving average price of $62.65 and a two-hundred day moving average price of $66.37. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a market capitalization of $273.38 billion, a P/E ratio of 26.22, a PEG ratio of 3.52 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.

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.