Orrstown Financial Services Inc. Sells 230 Shares of The Coca-Cola Company (NYSE:KO)

Orrstown Financial Services Inc. decreased its stake in The Coca-Cola Company (NYSE:KO) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,064 shares of the company’s stock after selling 230 shares during the period. Orrstown Financial Services Inc.’s holdings in Coca-Cola were worth $440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. Quarry LP acquired a new position in Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter worth about $36,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola in the 4th quarter valued at about $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola during the 3rd quarter worth approximately $43,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola 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 transaction, the chief executive officer now directly owns 342,546 shares in the company, 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 is accessible through this link. 0.97% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KO. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. 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 research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.93.

Coca-Cola Trading Up 0.4 %

NYSE:KO traded up $0.24 during trading hours on Wednesday, hitting $62.60. 1,315,949 shares of the company were exchanged, compared to its average volume of 15,956,419. The stock has a market capitalization of $269.66 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The company has a fifty day simple moving average of $62.65 and a 200 day simple moving average of $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 Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

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.