Kornitzer Capital Management Inc. KS Has $42.30 Million Stake in CocaCola Company (The) $KO

Kornitzer Capital Management Inc. KS cut its stake in shares of CocaCola Company (The) (NYSE:KO) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 637,756 shares of the company’s stock after selling 7,883 shares during the quarter. CocaCola makes up approximately 0.8% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 27th biggest position. Kornitzer Capital Management Inc. KS’s holdings in CocaCola were worth $42,296,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nicola Wealth Management LTD. raised its position in shares of CocaCola by 42.3% during the third quarter. Nicola Wealth Management LTD. now owns 185,000 shares of the company’s stock worth $12,269,000 after acquiring an additional 55,000 shares during the last quarter. Savoir Faire Capital Management L.P. increased its position in CocaCola by 22.6% during the 3rd quarter. Savoir Faire Capital Management L.P. now owns 177,007 shares of the company’s stock valued at $11,739,000 after purchasing an additional 32,640 shares during the period. Avantax Planning Partners Inc. raised its holdings in CocaCola by 2.5% during the 3rd quarter. Avantax Planning Partners Inc. now owns 178,388 shares of the company’s stock worth $11,831,000 after purchasing an additional 4,305 shares during the last quarter. Intact Investment Management Inc. lifted its position in shares of CocaCola by 5.1% in the 3rd quarter. Intact Investment Management Inc. now owns 247,100 shares of the company’s stock worth $16,388,000 after purchasing an additional 11,900 shares during the period. Finally, LBP AM SA boosted its stake in shares of CocaCola by 0.4% in the 3rd quarter. LBP AM SA now owns 113,622 shares of the company’s stock valued at $7,535,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In other CocaCola news, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the transaction, the executive vice president owned 58,067 shares in the company, valued at approximately $4,111,143.60. This represents a 70.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the transaction, the chief operating officer directly owned 62,621 shares in the company, valued at $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 211,704 shares of company stock valued at $15,005,595 over the last ninety days. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KO shares. Bank of America lifted their target price on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Wells Fargo & Company lifted their price objective on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Thursday. UBS Group reiterated a “buy” rating on shares of CocaCola in a report on Friday, December 5th. Finally, Piper Sandler boosted their price target on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note 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. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $79.08.

CocaCola Stock Down 0.4%

KO stock opened at $72.60 on Tuesday. The stock’s 50 day simple moving average is $70.70 and its 200 day simple moving average is $69.38. The company has a market cap of $312.30 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 3.75 and a beta of 0.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a fifty-two week low of $62.28 and a fifty-two week high of $74.38.

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.