Zullo Investment Group Inc. Boosts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Zullo Investment Group Inc. boosted its stake in The Coca-Cola Company (NYSE:KO) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,621 shares of the company’s stock after purchasing an additional 192 shares during the quarter. Zullo Investment Group Inc.’s holdings in Coca-Cola were worth $1,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. Howard Capital Management Group LLC grew its holdings in Coca-Cola by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after buying an additional 2,069 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Coca-Cola by 12.6% in the third quarter. Foundations Investment Advisors LLC now owns 54,246 shares of the company’s stock valued at $3,898,000 after purchasing an additional 6,089 shares in the last quarter. Calton & Associates Inc. bought a new stake in Coca-Cola in the third quarter worth $407,000. Sequoia Financial Advisors LLC raised its stake in Coca-Cola by 35.5% during the third quarter. Sequoia Financial Advisors LLC now owns 143,561 shares of the company’s stock valued at $10,319,000 after purchasing an additional 37,632 shares in the last quarter. Finally, BLB&B Advisors LLC lifted its position in Coca-Cola by 38.3% during the third quarter. BLB&B Advisors LLC now owns 50,921 shares of the company’s stock valued at $3,659,000 after purchasing an additional 14,110 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on KO. Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Morgan Stanley raised their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Stock Up 1.5 %

NYSE:KO opened at $70.11 on Thursday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a 50-day moving average of $63.42 and a 200 day moving average of $66.39. The firm has a market cap of $302.00 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 3.73 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

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.