Rice Partnership LLC Acquires 6,793 Shares of The Coca-Cola Company (NYSE:KO)

Rice Partnership LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,746 shares of the company's stock after purchasing an additional 6,793 shares during the quarter. Coca-Cola makes up 1.2% of Rice Partnership LLC's portfolio, making the stock its 26th largest holding. Rice Partnership LLC's holdings in Coca-Cola were worth $6,397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP bought a new stake in Coca-Cola during the second quarter worth approximately $27,000. Hara Capital LLC bought a new stake in Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the third quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola during the fourth quarter worth approximately $37,000. Finally, MilWealth Group LLC bought a new stake in Coca-Cola during the fourth quarter worth approximately $40,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.4 %

Shares of NYSE KO traded up $0.25 during trading hours on Thursday, hitting $63.37. The stock had a trading volume of 13,410,332 shares, compared to its average volume of 15,637,591. The company has a market capitalization of $272.96 billion, a P/E ratio of 26.18, a P/E/G ratio of 3.56 and a beta of 0.61. The firm's 50-day moving average price is $62.56 and its two-hundred day moving average price is $66.34. 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.

Analyst Ratings Changes

Several equities research analysts recently commented on KO shares. JPMorgan Chase & Co. 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 28th. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and lifted their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price target 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. TD Cowen upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Coca-Cola currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.19.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.97% of the company's stock.

Coca-Cola 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.