Calamos Wealth Management LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Calamos Wealth Management LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,766 shares of the company’s stock after acquiring an additional 211 shares during the period. Calamos Wealth Management LLC’s holdings in Coca-Cola were worth $982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Investment Advisory Group LLC raised its holdings in Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after acquiring an additional 146 shares during the last quarter. CCG Wealth Management LLC grew its stake in shares of Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after acquiring an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. grew its stake in shares of Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after acquiring an additional 150 shares in the last quarter. Chapin Davis Inc. grew its stake in shares of Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after acquiring an additional 153 shares in the last quarter. Finally, Blossom Wealth Management grew its stake in shares of Coca-Cola by 3.3% during the third quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after acquiring an additional 155 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent analyst reports. Barclays dropped their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. cut 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 note on Tuesday, January 28th. Morgan Stanley decreased their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Piper Sandler decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, UBS Group lowered their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction 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. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

NYSE:KO opened at $63.36 on Tuesday. The firm has a 50 day moving average of $62.65 and a 200-day moving average of $66.39. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The stock has a market capitalization of $272.95 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

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.