Austin Private Wealth LLC Acquires 2,089 Shares of The Coca-Cola Company (NYSE:KO)

Austin Private Wealth LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 45.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,707 shares of the company’s stock after purchasing an additional 2,089 shares during the period. Austin Private Wealth LLC’s holdings in Coca-Cola were worth $418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harvest Portfolios Group Inc. bought a new position in Coca-Cola in the third quarter valued at about $18,383,000. Balentine LLC grew its holdings in shares of Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares during the last quarter. Fiduciary Alliance LLC grew its holdings in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Coca-Cola by 5.8% during the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after purchasing an additional 46,541 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’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 directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley reduced 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 upgraded 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 report on Thursday. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. UBS Group cut their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $63.46 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock’s 50 day moving average is $62.65 and its 200-day moving average is $66.37. The firm has a market capitalization of $273.38 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 3.52 and a beta of 0.61.

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.