Avanza Fonder AB Acquires Shares of 404,634 The Coca-Cola Company (NYSE:KO)

Avanza Fonder AB bought a new stake in The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 404,634 shares of the company’s stock, valued at approximately $25,193,000. Coca-Cola makes up about 0.8% of Avanza Fonder AB’s portfolio, making the stock its 18th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the third quarter valued at about $36,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at approximately $43,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $58,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Piper Sandler assumed coverage on Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. UBS Group reduced their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fifteen have given 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 an average price target of $72.60.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock opened at $62.40 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a fifty day moving average price of $62.74 and a 200 day moving average price of $66.44. 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 firm has a market capitalization of $268.81 billion, a P/E ratio of 25.66, a PEG ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

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.