Banyan Capital Management Inc. Invests $518,000 in CocaCola Company (The) $KO

Banyan Capital Management Inc. acquired a new position in shares of CocaCola Company (The) (NYSE:KO) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,810 shares of the company’s stock, valued at approximately $518,000.

Other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its stake 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 worth $26,000 after acquiring an additional 360 shares in the last quarter. Headlands Technologies LLC acquired a new position in CocaCola during the second quarter worth $26,000. Marquette Asset Management LLC bought a new position in CocaCola in the third quarter valued at $27,000. Cloud Capital Management LLC acquired a new stake in CocaCola in the 3rd quarter valued at $27,000. Finally, MMA Asset Management LLC bought a new stake in CocaCola during the 2nd quarter worth about $34,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at CocaCola

In other CocaCola news, EVP Nancy Quan sold 31,625 shares of the company’s stock in a transaction on 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 transaction, the executive vice president directly owned 223,330 shares of the company’s stock, valued at $15,894,396.10. This represents a 12.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $70.80, for a total value of $9,889,981.20. Following the transaction, the executive vice president owned 58,067 shares in the company, valued at $4,111,143.60. The trade was a 70.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 211,704 shares of company stock worth $15,005,595 over the last ninety days. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research note on Thursday, January 22nd. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $83.00 price objective on shares of CocaCola in a report on Thursday. Finally, Piper Sandler boosted 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 research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. According to MarketBeat, CocaCola has an average rating of “Buy” and an average price target of $79.69.

CocaCola Stock Up 0.5%

KO stock opened at $73.39 on Friday. CocaCola Company has a 1-year low of $62.35 and a 1-year high of $74.38. The business’s 50 day simple moving average is $70.83 and its 200 day simple moving average is $69.46. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $315.70 billion, a PE ratio of 24.30, a PEG ratio of 3.75 and a beta of 0.39.

CocaCola Company Profile

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.