Retirement Systems of Alabama Raises Holdings in The Coca-Cola Company (NYSE:KO)

Retirement Systems of Alabama raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 50.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,812,940 shares of the company’s stock after acquiring an additional 606,328 shares during the quarter. Retirement Systems of Alabama’s holdings in Coca-Cola were worth $112,874,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Sargent Investment Group LLC boosted its stake in shares of 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 buying an additional 243 shares during the last quarter. Cassia Capital Partners LLC boosted its stake in shares of 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 buying an additional 4,769 shares during the last quarter. Tanager Wealth Management LLP boosted its stake in shares of 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 buying an additional 1,255 shares during the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of 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 buying an additional 19,040 shares during the last quarter. Finally, James J. Burns & Company LLC raised its holdings in Coca-Cola by 27.2% in the 4th quarter. James J. Burns & Company LLC now owns 8,212 shares of the company’s stock worth $511,000 after purchasing an additional 1,758 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. UBS Group decreased their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Piper Sandler decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Two investment 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. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $72.13.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated 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 transaction, the chief executive officer now owns 342,546 shares in the company, 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 hyperlink. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 1.1 %

Shares of Coca-Cola stock opened at $62.68 on Wednesday. The firm has a market cap of $270.00 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 3.56 and a beta of 0.61. The business has a 50-day moving average price of $62.62 and a 200-day moving average price of $66.38. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Coca-Cola Company 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.