Apexium Financial LP Raises Stock Position in The Coca-Cola Company (NYSE:KO)

Apexium Financial LP boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 32.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,851 shares of the company’s stock after buying an additional 2,652 shares during the period. Apexium Financial LP’s holdings in Coca-Cola were worth $676,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP bought a new position in Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the third quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola during the 4th quarter valued at about $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

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 directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KO has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays lowered their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Piper Sandler dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $72.07.

Coca-Cola Trading Up 0.7 %

Shares of Coca-Cola stock opened at $61.98 on Monday. 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 fifty day moving average of $62.62 and a 200 day moving average of $66.39. The company has a market capitalization of $267.01 billion, a P/E ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

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.