Drive Wealth Management LLC Purchases 377 Shares of The Coca-Cola Company (NYSE:KO)

Drive Wealth Management LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,568 shares of the company’s stock after acquiring an additional 377 shares during the quarter. Drive Wealth Management LLC’s holdings in Coca-Cola were worth $658,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its holdings in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Wellington Management Group LLP boosted its stake in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Coca-Cola in the third quarter valued at approximately $269,382,000. Geode Capital Management LLC boosted its stake in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC lifted its position in shares of Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after acquiring an additional 2,443,612 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Piper Sandler cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, UBS Group cut their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.07.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $61.98 on Monday. The company has a market cap of $267.01 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 3.38 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. The business has a 50 day moving average price of $62.62 and a 200-day moving average price of $66.39.

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.