New England Research & Management Inc. Sells 1,125 Shares of The Coca-Cola Company (NYSE:KO)

New England Research & Management Inc. lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,374 shares of the company’s stock after selling 1,125 shares during the quarter. New England Research & Management Inc.’s holdings in Coca-Cola were worth $1,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in KO. Hanson & Doremus Investment Management lifted its position in shares of Coca-Cola by 11.5% during the 4th quarter. Hanson & Doremus Investment Management now owns 43,514 shares of the company’s stock valued at $2,709,000 after buying an additional 4,484 shares in the last quarter. Field & Main Bank lifted its holdings in Coca-Cola by 6.0% during the fourth quarter. Field & Main Bank now owns 43,639 shares of the company’s stock valued at $2,717,000 after purchasing an additional 2,455 shares in the last quarter. Strategic Blueprint LLC boosted its position in shares of Coca-Cola by 4.1% in the fourth quarter. Strategic Blueprint LLC now owns 23,884 shares of the company’s stock worth $1,487,000 after purchasing an additional 942 shares during the period. Foster Victor Wealth Advisors LLC increased its stake in shares of Coca-Cola by 29.5% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 18,120 shares of the company’s stock worth $1,136,000 after purchasing an additional 4,123 shares in the last quarter. Finally, BOCHK Asset Management Ltd bought a new stake in shares of Coca-Cola during the 4th quarter valued at $355,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KO. Piper Sandler cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Barclays decreased their price objective 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. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.93.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $62.86 on Thursday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The business’s fifty day simple moving average is $62.65 and its 200-day simple moving average is $66.41. 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 $270.77 billion, a PE ratio of 25.97, a PEG ratio of 3.38 and a beta of 0.61.

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.