Summit Wealth Partners LLC Grows Holdings in The Coca-Cola Company (NYSE:KO)

Summit Wealth Partners LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 31.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,389 shares of the company’s stock after purchasing an additional 1,058 shares during the quarter. Summit Wealth Partners LLC’s holdings in Coca-Cola were worth $273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. 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 period. Miracle Mile Advisors LLC increased its stake in Coca-Cola by 11.2% in the 3rd quarter. Miracle Mile Advisors LLC now owns 9,643 shares of the company’s stock valued at $693,000 after buying an additional 972 shares during the period. Insight Wealth Strategies LLC acquired a new position in Coca-Cola in the 3rd quarter valued at $201,000. Atomi Financial Group Inc. increased 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 valued at $1,906,000 after buying an additional 2,678 shares during the period. Finally, O Keefe Stevens Advisory Inc. increased its stake 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 buying an additional 2,139 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on KO. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. lowered their price target 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. Barclays lowered their price target 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. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Wells Fargo & Company lowered their price target 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. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Insider Transactions 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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE:KO opened at $63.13 on Thursday. The firm has a market cap of $271.94 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. 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 company’s 50-day moving average is $62.59 and its two-hundred day moving average is $66.36. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

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.