Stock Yards Bank & Trust Co. Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Stock Yards Bank & Trust Co. lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 248,661 shares of the company’s stock after acquiring an additional 3,108 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Coca-Cola were worth $15,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of KO. Valley National Advisers Inc. increased its holdings in shares of Coca-Cola by 7.9% in the fourth quarter. Valley National Advisers Inc. now owns 4,257 shares of the company’s stock valued at $265,000 after purchasing an additional 310 shares during the period. Level Wealth Management LLC purchased a new position in Coca-Cola during the 4th quarter worth approximately $490,000. McAdam LLC raised its position in Coca-Cola by 17.9% during the 4th quarter. McAdam LLC now owns 14,700 shares of the company’s stock worth $915,000 after buying an additional 2,230 shares during the last quarter. Round Rock Advisors LLC boosted its holdings in Coca-Cola by 24.8% in the fourth quarter. Round Rock Advisors LLC now owns 10,957 shares of the company’s stock valued at $682,000 after purchasing an additional 2,178 shares during the last quarter. Finally, Jacobsen Capital Management grew its position in Coca-Cola by 6.6% during the 4th quarter. Jacobsen Capital Management now owns 6,074 shares of the company’s stock worth $378,000 after purchasing an additional 376 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE KO opened at $63.46 on Monday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $62.65 and its 200-day simple moving average is $66.38. The company has a market cap of $273.38 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KO. JPMorgan Chase & Co. decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Barclays cut their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Truist Financial increased their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a report on Thursday. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.13.

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.