Field & Main Bank Raises Stake in The Coca-Cola Company (NYSE:KO)

Field & Main Bank increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,639 shares of the company’s stock after buying an additional 2,455 shares during the period. Field & Main Bank’s holdings in Coca-Cola were worth $2,717,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KO. Quarry LP purchased a new stake in Coca-Cola during the 2nd quarter worth about $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the third quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the third quarter valued at approximately $43,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $62.61 on Wednesday. The stock has a market cap of $269.70 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company’s 50 day moving average is $62.65 and its two-hundred day moving average is $66.41. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KO shares. Barclays lowered their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Piper Sandler reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. 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 report on Tuesday. Finally, UBS Group decreased their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.93.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by corporate 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.