NovaPoint Capital LLC Has $507,000 Stock Position in The Coca-Cola Company (NYSE:KO)

NovaPoint Capital LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,136 shares of the company’s stock after selling 374 shares during the period. NovaPoint Capital LLC’s holdings in Coca-Cola were worth $507,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Czech National Bank increased its stake in Coca-Cola by 6.9% in the 3rd 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 last quarter. Miracle Mile Advisors LLC grew its position in shares of Coca-Cola by 11.2% during the 3rd 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 during the period. Insight Wealth Strategies LLC bought a new position in shares of Coca-Cola during the 3rd quarter valued at approximately $201,000. Atomi Financial Group Inc. grew its position in shares of Coca-Cola by 11.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 26,522 shares of the company’s stock valued at $1,906,000 after acquiring an additional 2,678 shares during the period. Finally, O Keefe Stevens Advisory Inc. grew its position in shares of Coca-Cola by 44.1% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 6,988 shares of the company’s stock valued at $502,000 after acquiring an additional 2,139 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of several analyst reports. UBS Group cut their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their price objective 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. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Up 0.7 %

Shares of Coca-Cola stock opened at $63.13 on Thursday. 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 company has a 50-day simple moving average of $62.59 and a two-hundred day simple moving average of $66.36. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The stock has a market capitalization of $271.94 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

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.