Tyche Wealth Partners LLC Raises Position in The Coca-Cola Company (NYSE:KO)

Tyche Wealth Partners LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,447 shares of the company’s stock after acquiring an additional 1,633 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Coca-Cola were worth $3,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Hara Capital LLC purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $37,000. MilWealth Group LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $63.13 on Thursday. The company has a market capitalization of $271.94 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 3.56 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 firm’s 50-day moving average is $62.59 and its 200 day moving average 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. UBS Group decreased their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Piper Sandler decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Finally, 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 research note on Thursday, October 24th. Two 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Insider Activity at Coca-Cola

In related 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 transaction of $6,403,000.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.97% of the stock is currently owned by insiders.

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.