Hanson & Doremus Investment Management Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Hanson & Doremus Investment Management increased its position in shares of The Coca-Cola Company (NYSE:KO) by 11.5% during the 4th quarter, Holdings Channel reports. The firm owned 43,514 shares of the company’s stock after purchasing an additional 4,484 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Coca-Cola were worth $2,709,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Harvest Portfolios Group Inc. bought a new position in shares of Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC grew its stake in Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after purchasing an additional 59,503 shares during the last quarter. Fiduciary Alliance LLC raised its stake in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after buying an additional 46,541 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

NYSE KO opened at $62.86 on Thursday. The company has a fifty day moving average of $62.65 and a 200-day moving average of $66.41. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market capitalization of $270.77 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.38 and a beta of 0.61.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company lowered 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 report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Piper Sandler cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.93.

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.