Cherry Creek Investment Advisors Inc. Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Cherry Creek Investment Advisors Inc. increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 46,154 shares of the company’s stock after acquiring an additional 227 shares during the quarter. Coca-Cola accounts for 1.4% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 20th biggest position. Cherry Creek Investment Advisors Inc.’s holdings in Coca-Cola were worth $2,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP bought a new stake in Coca-Cola in the second quarter worth about $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $36,000. MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola in the third quarter valued at approximately $43,000. Finally, Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the fourth quarter valued at $37,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KO shares. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays dropped their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. UBS Group reduced their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, TD Cowen upgraded 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.07.

Coca-Cola Stock Performance

Shares of KO opened at $63.84 on Tuesday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. 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 company has a market cap of $275.03 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The stock has a 50-day moving average price of $62.62 and a 200-day moving average price of $66.41.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.

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.