Secure Asset Management LLC Takes $287,000 Position in The Coca-Cola Co (NYSE:KO)
Secure Asset Management LLC acquired a new stake in The Coca-Cola Co (NYSE:KO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,181 shares of the company’s stock, valued at approximately $287,000.
Several other large investors have also made changes to their positions in KO. State Street Corp boosted its holdings in The Coca-Cola by 1.3% in the third quarter. State Street Corp now owns 181,621,433 shares of the company’s stock valued at $9,959,624,000 after acquiring an additional 2,412,293 shares during the last quarter. California Public Employees Retirement System boosted its holdings in The Coca-Cola by 6.1% in the third quarter. California Public Employees Retirement System now owns 24,437,038 shares of the company’s stock valued at $1,330,352,000 after acquiring an additional 1,413,482 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in The Coca-Cola by 73.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 3,128,200 shares of the company’s stock valued at $170,299,000 after acquiring an additional 1,328,200 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in The Coca-Cola by 18,134.4% in the third quarter. Squarepoint Ops LLC now owns 1,075,828 shares of the company’s stock valued at $58,568,000 after acquiring an additional 1,069,928 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new position in The Coca-Cola in the third quarter valued at $56,690,000. 67.58% of the stock is owned by institutional investors and hedge funds.
Shares of KO traded up $0.29 during midday trading on Friday, reaching $59.90. 5,722,339 shares of the company were exchanged, compared to its average volume of 12,547,106. The stock has a 50-day moving average price of $56.84 and a 200-day moving average price of $54.61. The company has a market cap of $256.00 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 3.66 and a beta of 0.41. The Coca-Cola Co has a 1-year low of $44.42 and a 1-year high of $59.84. The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30.
In related news, SVP Nancy Quan sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $58.27, for a total value of $1,165,400.00. Following the transaction, the senior vice president now owns 185,049 shares in the company, valued at $10,782,805.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Larry M. Mark sold 90,289 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $54.93, for a total value of $4,959,574.77. Following the completion of the transaction, the vice president now owns 93,474 shares in the company, valued at approximately $5,134,526.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,097 shares of company stock worth $9,887,839. Insiders own 1.33% of the company’s stock.
A number of research analysts recently weighed in on the company. SunTrust Banks reiterated an “outperform” rating and issued a $65.00 target price on shares of The Coca-Cola in a report on Friday, January 31st. They noted that the move was a valuation call. Evercore ISI reiterated a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a report on Sunday, November 17th. UBS Group lifted their target price on The Coca-Cola from $63.00 to $65.00 and gave the company a “buy” rating in a report on Friday, January 31st. Royal Bank of Canada lifted their target price on The Coca-Cola from $60.00 to $66.00 and gave the company a “positive” rating in a report on Friday, January 31st. Finally, Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The Coca-Cola currently has an average rating of “Buy” and an average price target of $59.58.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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