Phoenix Financial Ltd. Grows Stake in CocaCola Company (The) $KO

Phoenix Financial Ltd. boosted its position in CocaCola Company (The) (NYSE:KO) by 36.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,293 shares of the company’s stock after purchasing an additional 16,567 shares during the period. Phoenix Financial Ltd.’s holdings in CocaCola were worth $4,131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its position in shares of CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares during the period. Headlands Technologies LLC bought a new position in CocaCola in the 2nd quarter worth $26,000. Marquette Asset Management LLC purchased a new position in CocaCola during the third quarter valued at $27,000. MMA Asset Management LLC bought a new stake in CocaCola during the second quarter valued at about $34,000. Finally, GFG Capital LLC purchased a new stake in CocaCola in the second quarter worth about $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on KO shares. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. UBS Group reiterated a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Thursday, January 22nd. Finally, Piper Sandler upped their target price on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and an average target price of $79.08.

CocaCola Price Performance

Shares of NYSE:KO opened at $73.53 on Wednesday. The firm has a market cap of $316.28 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 3.73 and a beta of 0.39. The firm has a fifty day moving average price of $70.75 and a 200 day moving average price of $69.41. CocaCola Company has a fifty-two week low of $62.28 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

Insider Activity

In other news, EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $71.17, for a total value of $2,250,751.25. Following the sale, the executive vice president directly owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. The trade was a 12.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the sale, the chief operating officer owned 62,621 shares in the company, valued at $4,441,707.53. This represents a 39.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 211,704 shares of company stock worth $15,005,595 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.