The Coca-Cola Company (NYSE:KO) Shares Purchased by Rice Partnership LLC

Rice Partnership LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,746 shares of the company’s stock after purchasing an additional 6,793 shares during the period. Coca-Cola accounts for about 1.2% of Rice Partnership LLC’s holdings, making the stock its 26th biggest position. Rice Partnership LLC’s holdings in Coca-Cola were worth $6,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. Quarry LP acquired a new position in Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new position in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the 3rd quarter valued at $36,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola in the 3rd quarter valued at $43,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the 4th quarter valued at $37,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on KO. Piper Sandler cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Barclays lowered their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. UBS Group lowered their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price target 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 7th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $63.46 on Monday. The firm has a market cap of $273.38 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The firm’s 50-day simple moving average is $62.65 and its 200-day simple moving average is $66.39. 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 Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.97% of the company’s stock.

About Coca-Cola

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.