Hager Investment Management Services LLC Takes $113,000 Position in The Coca-Cola Company (NYSE:KO)

Hager Investment Management Services LLC bought a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,822 shares of the company’s stock, valued at approximately $113,000.

Several other hedge funds have also recently made changes to their positions in the business. Retirement Systems of Alabama raised its position in Coca-Cola by 50.3% in the 4th quarter. Retirement Systems of Alabama now owns 1,812,940 shares of the company’s stock worth $112,874,000 after purchasing an additional 606,328 shares during the period. Sargent Investment Group LLC raised its position in Coca-Cola by 7.1% in the 4th quarter. Sargent Investment Group LLC now owns 3,658 shares of the company’s stock worth $226,000 after purchasing an additional 243 shares during the period. Cassia Capital Partners LLC raised its position in Coca-Cola by 41.2% in the 4th quarter. Cassia Capital Partners LLC now owns 16,345 shares of the company’s stock worth $1,018,000 after purchasing an additional 4,769 shares during the period. Tanager Wealth Management LLP raised its position in Coca-Cola by 41.0% in the 4th quarter. Tanager Wealth Management LLP now owns 4,315 shares of the company’s stock worth $269,000 after purchasing an additional 1,255 shares during the period. Finally, E. Ohman J or Asset Management AB raised its position in Coca-Cola by 11.5% in the 4th quarter. E. Ohman J or Asset Management AB now owns 184,340 shares of the company’s stock worth $11,477,000 after purchasing an additional 19,040 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Down 1.1 %

NYSE KO opened at $62.68 on Wednesday. The company has a fifty day simple moving average of $62.62 and a two-hundred day simple moving average of $66.38. The stock has a market cap of $270.00 billion, a P/E ratio of 25.90, a P/E/G 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 company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the firm’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 of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KO shares. UBS Group dropped their target price 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. Wells Fargo & Company dropped 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 7th. Piper Sandler dropped their price objective 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. Barclays dropped their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, TD Cowen upgraded shares of 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 analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.