Cassia Capital Partners LLC Buys 4,769 Shares of The Coca-Cola Company (NYSE:KO)

Cassia Capital Partners LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 41.2% during the 4th quarter, HoldingsChannel reports. The firm owned 16,345 shares of the company’s stock after acquiring an additional 4,769 shares during the period. Coca-Cola comprises 0.6% of Cassia Capital Partners LLC’s investment portfolio, making the stock its 29th largest position. Cassia Capital Partners LLC’s holdings in Coca-Cola were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in KO. FMR LLC grew its stake in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Coca-Cola during the 3rd quarter worth $269,382,000. Geode Capital Management LLC increased its holdings in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its position in Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of KO stock opened at $62.68 on Wednesday. The firm has a 50 day moving average of $62.62 and a 200-day moving average of $66.38. The company has a market cap of $270.00 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. 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 52 week low of $57.93 and a 52 week high of $73.53.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KO. Barclays reduced their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Piper Sandler decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Finally, 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 research report on Thursday, December 12th. Two 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.13.

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.