Adero Partners LLC Purchases 6,614 Shares of The Coca-Cola Company (NYSE:KO)

Adero Partners LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 88.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,082 shares of the company’s stock after purchasing an additional 6,614 shares during the quarter. Adero Partners LLC’s holdings in Coca-Cola were worth $877,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Czech National Bank increased its position in shares of Coca-Cola by 6.9% during the third quarter. Czech National Bank now owns 790,169 shares of the company’s stock valued at $56,782,000 after buying an additional 51,339 shares during the period. Miracle Mile Advisors LLC grew its stake in Coca-Cola by 11.2% during the third quarter. Miracle Mile Advisors LLC now owns 9,643 shares of the company’s stock valued at $693,000 after acquiring an additional 972 shares in the last quarter. Insight Wealth Strategies LLC bought a new stake in Coca-Cola during the 3rd quarter worth approximately $201,000. Atomi Financial Group Inc. lifted its stake in Coca-Cola by 11.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 26,522 shares of the company’s stock worth $1,906,000 after purchasing an additional 2,678 shares in the last quarter. Finally, O Keefe Stevens Advisory Inc. boosted its holdings in Coca-Cola by 44.1% in the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 6,988 shares of the company’s stock valued at $502,000 after purchasing an additional 2,139 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction 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 represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Up 0.7 %

Shares of NYSE:KO opened at $63.13 on Thursday. The stock has a market capitalization of $271.94 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The stock’s 50-day moving average price is $62.59 and its 200-day moving average price is $66.36. 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 12-month low of $57.93 and a 12-month high of $73.53.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. 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 note on Tuesday, January 28th. Finally, Piper Sandler cut 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. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

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.