Journey Strategic Wealth LLC Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Journey Strategic Wealth LLC decreased its position in The Coca-Cola Company (NYSE:KO) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,621 shares of the company’s stock after selling 543 shares during the period. Journey Strategic Wealth LLC’s holdings in Coca-Cola were worth $661,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

KO has been the topic of several research reports. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Piper Sandler reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $69.00 to $75.00 in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Insiders Place Their Bets

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

Coca-Cola Stock Performance

NYSE:KO opened at $63.46 on Monday. The company’s 50-day moving average is $62.65 and its two-hundred day moving average is $66.38. The firm has a market capitalization of $273.38 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 3.52 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

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.