Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $2.43 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,086 shares of the company’s stock after purchasing an additional 2,394 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Coca-Cola were worth $2,433,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. FMR LLC grew its stake in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Wellington Management Group LLP grew its stake in Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Coca-Cola in the third quarter valued at approximately $269,382,000. Geode Capital Management LLC lifted its holdings in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler dropped their target price on 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 raised their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company dropped their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Barclays dropped their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.07.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value 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 approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $63.84 on Tuesday. The firm has a market cap of $275.03 billion, a PE ratio of 26.38, a PEG ratio of 3.38 and a beta of 0.61. The stock’s fifty day moving average price is $62.62 and its two-hundred day moving average price is $66.41. 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.

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.